4: The board of directors of Energy Manufacturing is in the process of declaring a cash dividendof $2 per share. Energy Mfg. is authorized to issue 200,000 shares of common stock. Thecompany has issued 125,000 shares to date, and has reacquired 15,000 shares, which are held intreasury.a. How many shares of common stock are eligible to receive a dividend?b. Assume that the board declares the dividend. Prepare the appropriate journal entries onthe (1) date of declaration, (2) date of record, and (3) date of payment.

Dividends are paid in two types Stock dividends and Cash dividends. Stock dividend means a payment…

Answered: 4: The board of directors of Energy…

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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A company's board of directors votes to declare a cash dividend of $1.55 per share of common stock. The company has 31,000 shares authorized, 26,000 issued, and 25,500 shares outstanding. The total amount of the cash dividend is: Multiple Choice $39,525 $47,050 $48.,050. 633 PM 3/28/2022
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The charter of a corporation provides for the issuance of 118,000 shares of common stock. Assume that 44,000 shares were originally issued and 3,100 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1-per-share dividend is declared? a.$44,000 b.$118,000 c.$40,900 d.$3,100
On April 1, 2019, Kelly Corporation began operations and authorized 100,000 shares of $5 par value common stock. The company engaged in the following transactions:April 1 Issued 20,000 shares of common stock for $200,000.April 15 Issued 10,000 shares of common stock for $125,000.May 12 Purchased 2,500 shares of common stock for $75,000.June 30 The board of directors declared a $0.20 per share cash dividend to be paid on July 15 to shareholders of record on July 51. Prepare journal entries for the above transactions.2. Prepared the stockholders’ equity section of Kelly Corporation’s balance sheet as of June 30, 2019. Net income for the period April 1 through June 30 was $150,000.3. What effect, if any, will the cash dividend declaration on June 30 have on Kelly Corporation’s net income, retained earnings, and cash flows?
Dengar
Your Corporation had 40,000 shares of $2 par value common stock authorized 30,000 shares issued and 20,000 shares outstanding, when the board of directors. declared a cash dividend of $3.50 per share. What is the dollar amount of the cash dividend?
A corporation has issued 50,000 shares of $100 par common stock and holds 6,000 of these shares as treasury stock. If the corporation declares a $2 per share cash dividend, what amount will be recorded as cash dividends? Group of answer choices $44,000 $88,000 $96,000 $100,000
Use the following information to answer the next four questions. A company begins operations on 1/1/22, selling 100,000 shares of common stock (with 500,000 shares authorized). These shares have a par value of $1/share and were originally sold for $5/share. On 3/1/22, the company repurchases 1,000 common shares for $8/share (the company does not formally retire the shares). On 5/1/22, the company resells 500 of those shares for $10/share. On 8/1/22, the company declares and executes a 2-for-1 stock split. On 12/1/22, the company declares a $0.10/share cash dividend. The date of record is 12/31/22 and the payment date is 1/10/23. Net income during 2022 was $200,000 At 12/31/22, the common shares are trading at $7/share. a) What is the balance in common stock at 12/31/22? b) What is the balance in additional paid in capital at 12/31/22? c) What is the balance in treasury stock at 12/31/22? d) What is the balance in retained earnings at 12/31/22?
Please help me. Thankyou.
The board of durectors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding. The journal entry for the dividend declaration would be:
H7. The charter of a corporation provides for the issuance of 147,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding? a. 43,500 b. 55,000 c. 147,000 d. 11,500 Please show all step by step calculation

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