1. Record the transactions in the general journal. PLASE GIVE me the righanswer and explain 6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share. Date Account DR CR 6-Feb Stock Dividend Correct Incorrect Common Stock Dividend Distributable Correct Incorrect Paid-in Capital in Excess of Par Value-Common Stock Correct Incorrect

1. Record the transactions in the general journal. PLASE GIVE me the righanswer and explain 6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share. Date Account DR CR 6-Feb Stock Dividend Correct Incorrect Common Stock Dividend Distributable Correct Incorrect Paid-in Capital in Excess of Par Value-Common Stock Correct Incorrect

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On September 1, the board of directors of a company, declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date.Required:1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. need help
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Directions: Determine values for the missing items. Round answers to one decimal. 2018 2017 Net Income (in millions) ? ? Weighted Average Shares Outstanding (in millions) Basic Number Shares ? 59.2 Diluted Number of Shares 64.8 ? Earnings Per Share Basic 1.50 1.09 Diluted 1.43 1.02 Assume no preferred stock or restricted stock unit dividends .
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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 October 31 November 5 December 1 December 31 General Journal Retained Earnings Common Dividend Payable $ 420,000 100,000 380,000 Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $12 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Debit 70,000 70,000 75,000 36,000 210,000 Credit 70,000 70,000 36,000 39,000 36,000 210,000
In each case in the following table,attached, how many dollars of preferred dividends per share must be paid to preferred stockholders before common stock dividends are paid?
The following events occurred Gargantuan's first year of operations: 1. Acquired $36,000 cash from the issue of common stock on January 1, 2018. 2. Purchased $1,600 of supplies on account. 3. Paid $6,120 cash in advance for a one-year lease on office space. 4. Earned $44,350 of revenue on account. 5. Incurred $14,900 of other operating expenses on account. 6. Collected $32,000 cash from accounts receivable. 7. Paid $9,800 cash on accounts payable. 8. Paid a $4,600 cash dividend to the stockholders. Adjusting Entries information 9. There was $310 of supplies on hand at the end of the accounting period. 0. The lease on the office space covered a one-year period beginning November 1. 11. There was $5,200 of accrued salaries at the end of the period.
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6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share.
Date	Account		DR		CR
6-Feb	Stock Dividend	Correct		Incorrect
	Common Stock Dividend Distributable	Correct				Incorrect
	Paid-in Capital in Excess of Par Value-Common Stock	Correct				Incorrect