Screenshot 2023-10-17 211053

Question Content Area The charter of a corporation provides for the issuance of 103,000 shares of common stock. Assume that 39,000 shares were originally issued and 4,300 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3-per-share dividend is declared? a. $12,900 b. $309,000 c. $117,000 d. $104,100

Required: Provide explanations for the journal entries

Question Content Area The charter of a corporation provides for the issuance of 101,000 shares of common stock. Assume that 56,000 shares were originally issued and 7,000 were subsequently reacquired. What is the number of shares outstanding? a. 56,000 b. 63,000 c. 7,000 d. 49,000

Hii expert please provide correct answer general accounting question

Problem of Financial Accounting: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 85,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? a. 5,000 b.45,000 c. 80,000 d. 50,000

Financial Accounting and Reporting Equity

The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume that 44,000 shares were originally issued and 4,000 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1-per-share dividend is declared? Oa. $120.000 Ob, $40.000 Oc. $44,000 Od. $4.000

ACCOUNTING 4  ITEMS FOR 1 TO 4 ARE BASED ON THE FOLLOWING INFORMATION: During its first year of operations, LEBANON COMPANY entered into the following transactions relating to shareholders' equity. Lebanon's articles of incorporation authorized the issue of 2,400,000 ordinary shares, P10 par per share, and 300,000 preference shares, P50 par per share. Mar. 14 Sold 500,000 ordinary shares for P100 per share. 15 Issued 20,000 ordinary shares to attorneys in exchange for legal services. 15 Sold 35,000 of its ordinary shares and 10,000 preference shares for P6,000,000. Nov. 20 Issued 1,900 of its ordinary shares in exchange for equipment for which the cash price was known to be P185,000. Based on the preceding information, determine the correct balance of each of the following accounts. Ordinary share capital a. P5,569,000 b. P5,219,000 c. P5,550,000 d. P6,069,000

Exercise 6-4 (Cash, Share Capital, and Property Dividends) The PQR Corporation reports the following balances of January 1, 2021: P50,000 Ordinary share capital, P25 par, 2,000 shares outstanding Ordinary share premium Retained earnings 20,000 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P6 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends the stocks of Pentagon Corp. owned by PQR Corp. One share of Pentagon Corp. stock will be distributed for every share of PQR Corp. stock owned. The stocks of Pentagon have a carrying value of P25 per share. Oct 15 Declared a 30% stock dividend distributable on December 1 to shareholders of record of November 15. Stocks are selling on this date at P45 per share. Instructions: Record the declaration and distribution of the above dividends. ♡ Share Favourite Delete Edit More a O O

Entries for selected corporate transactions   Instructions Chart of Accounts Amount Descriptions T Accounts Journal Retained Earnings Statement Stockholders’ Equity       Instructions     Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 20Y5, are as follows: Common stock, $20 stated value (500,000 shares authorized, 399,000 shares issued) $7,980,000 Paid-In Capital in Excess of Stated Value—Common Stock 877,800 Retained Earnings 34,554,000 Treasury Stock (22,500 shares, at a cost of $17 per share) 382,500   The following selected transactions occurred during the year: Jan. 22 Paid cash dividends of $0.07 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $26,355. Apr. 10 Issued 73,000 shares of common stock for $23 per share. Jun. 6 Sold all of the…

The journal entry for the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organızing the corporation includes a credit to O a. Organizational Expenses O b. Goodwill O c. Common Stock O d. Cash

TB ES Qu. 16-108 Prince Corp. has the following balance... Prince Corp. has the following balance sheet information at December 31, 20X1. Current liabilities Convertible bonds ($1,000 par, 7%) Common stock ($1 par, 100,000 shares issued) Additional paid-in capital Retained earnings Treasury stock (9,000 shares) Total liabilities and shareholder's equity $ 545,000 4,000,000 100,000 1,000,000 2,000,000 (360,000) $7,285,000 The convertible bonds were issued at par on April 1, 20X1 and are convertible into Prince's common stock at a ratio of 25 shares of stock to 1 bond. Prince did not have any treasury stock at December 31, 20X0 and purchased the 9,000 shares evenly throughout 20X1. The average price of the common stock for the year was $40, and the year-end price was $45. Prince Corp. also has 60,000 outstanding and exercisable qualified employee stock options. Employees obtain one share of stock for each option exercised. The exercise price for each option is $21 per share. Prince's net…