1) On January 1, Crane Corporation had 64000 shares of $10 par
value common stock outstanding....
1) On January 1, Crane Corporation had 64000 shares of $10 par
value common stock outstanding. On March 17, the company declared a
10% stock dividend to stockholders of record on March 20. Market
value of the stock was $12 on March 17. The entry to record the
transaction of March 17 would include a
Credit to common stock dividends distributasble for 64000
Debit to common stock dividends distributable for 64000
Credit to cash for 76800
Credit to stock dividends...
On January 1, 2020, Samsung Corporation has 400,000 shares of $3
par value common stock outstanding....
On January 1, 2020, Samsung Corporation has 400,000 shares of $3
par value common stock outstanding. On the same date the
corporation’s board of directors declares a 12% stock dividend to
be issue on March 2, 2020. On the declaration date, the
corporation’s common stock fair market value is $4. On declaration
date, the corporation will record: *
Debit Stock Dividend $144,000
Debit Stock Dividend $192,000
Credit Stock Dividend $144,000
Credit Stock Dividend $192,000
A Company has 30,000 shares of...
On January 31, 2018, Village Bank had 480,000 shares of $2 par
value common stock outstanding....
On January 31, 2018, Village Bank had 480,000 shares of $2 par
value common stock outstanding. On that date, the company declared
a 9% stock dividend when the market price of the stock was $42 per
share. The immediate effect of this dividend upon Village Bank
was:
A reduction in cash of $1,814,400.
A reduction in retained earnings of $1,814,400.
A reduction in retained earnings of $86,400.
A liability to the stockholders of $86,400.
Norris Company has the following capital structure: Common
stock, $2 par, 200,000 shares issued and outstanding...
Norris Company has the following capital structure: Common
stock, $2 par, 200,000 shares issued and outstanding
On October 1, 2020, the company declared a 50% common stock
dividend when the market price of the common stock was $10 per
share. The stock dividend will be distributed on October 15, 2020,
to stockholders on record on October 10, 2020.
Upon declaration of the stock dividend, Norris Company would
record:
A.
A debit to Retained Earnings for $200,000
B.
A credit to...
XYZ Corp has 90,000 shares of $2 par value common stock
outstanding . XYZ declared and...
XYZ Corp has 90,000 shares of $2 par value common stock
outstanding . XYZ declared and distributed a 10% stock dividend
when the market price of its stock was $12.00 per share. In
recording this stock dividend transaction,
A) Retained Earnings is credited for $108,000
B) Paid in capital in excess of par value is credited for
$7,200
C) Retained Earnings is debited for $$108,000
D) Retained Earnings is debited for $18,000
2) A corporation repurchased 1,000 shares of its
$1.00...
On January 1, Sheffield Corporation had 81000 shares of $10 par
value common stock outstanding. On...
On January 1, Sheffield Corporation had 81000 shares of $10 par
value common stock outstanding. On June 17, the company declared a
15% stock dividend to stockholders of record on June 20. Market
value of the stock was $15 on June 17. The entry to record the
transaction of June 17 would include which of the following?
a.
credit to Cash for $182250.
b.
credit to Common Stock Dividends Distributable for
$182250.
c.
credit to Common Stock Dividends Distributable for...
Jackson Enterprises has the following capital (equity)
accounts:
Common stock ($1 par; 150,000 shares outstanding)
$...
Jackson Enterprises has the following capital (equity)
accounts:
Common stock ($1 par; 150,000 shares outstanding)
$
150,000
Additional paid-in capital
100,000
Retained earnings
275,000
The board of directors has declared a 15 percent stock dividend
on January 1 and a $0.20 cash dividend on March 1. What changes
occur in the capital accounts after each transaction if the price
of the stock is $5? Round the number of shares outstanding to the
nearest whole number and the other answers to...
On January 1, 2018, Walker Corporation had the following account
balances:
Common stock, $1 par, 250,000...
On January 1, 2018, Walker Corporation had the following account
balances:
Common stock, $1 par, 250,000 shares issues 250,000
Paid-in-capital - excess of par, common 500,000
Preferred stock, $100 par, 10,000 shares outstanding
1,000,000
Paid-in-capital - excess of par, preferred 100,000
Retained Earnings 2,000,000
Treasury stock, at cost, 5,000 shares 25,000
During 2018, the following transactions occurred relating to
common stock:
1/15/18 - Declared a property dividend of 100,000 shares of
Wagner Company (book value $10 per share; fair value...
In January 2018, Gardner Corporation was authorized to issue
100,000 shares of $10 par value common...
In January 2018, Gardner Corporation was authorized to issue
100,000 shares of $10 par value common stock and $50,000 shares of
$80 par, 4 percent, preferred the journal entries for the following
transactions:
a) March Issued 25,000 shares of common stock for $21 per share
for cash.
date
Description
Debitt
Credit
b) March 1 Issued 5,000 shares of preferred stock for $90 per
share for cash.
Date
Description
Debit
Credit
c) June 1 Purchased 400 shares of common stock as...
On January 1, 2014, Epson Corporation had $600,000 of $10 par
value common stock outstanding that...
On January 1, 2014, Epson Corporation had $600,000 of $10 par
value common stock outstanding that was issued at par and retained
earnings of $150,000. The company issued 20,000 shares of common
stock at $12 per share on July 1. On December 15, the board of
directors declared a 20% stock dividend to stockholders of record
on December 31, 2014, payable on January 15, 2015. The market value
of Epson Corporation stock was $15 per share on December 15 and...