6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share.Date Account DR CR 6-FebStock DividendCorrect$27,500 Correct Common Stock Dividend DistributableCorrect $11,000 Correct Paid-in Capital in Excess of Par Value-Common StockCorrect $16,500 Correct 15-Feb: Distributed the stock dividendDate Account DR CR 15-FebCommon Stock Dividend DistributableCorrect$11,000 Correct Common Stock $10 Par ValueCorrect Incorrect

First, let's understand the transactions. A 5% stock dividend means that for every 100 shares a…

Answered: 6-Feb: Declared a 5% stock dividend.…

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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Pls help me if it credit and debit make the tables make easy to read pls 5
5. Magenta Corporation declared $0.70 per share cash dividends on September 18. The dividends were recorded and paid on September 23 and September 29, respectively. Magenta Corporation had 50,000 shares outstanding with par value of $1. The journal entry to record the transaction on September 29 is … a. Cash Dividends $35,000 Dividends Payable $35,000 b. No journal entry required on this date c. Retained Earnings $50,000 Cash Dividends $50,000 d. Dividends Payable $35,000 Cash $35,000
I need the right numbers for the square in red thank you
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A-7
Calgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $15; outstanding, 10,300 shares) Common shares (outstanding, 33,000 shares) Retained earnings The board of directors is considering the distribution of a cash dividend to both groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $51,600. Case B: The preferred shares are cumulative; the total amount of dividends is $63,000. Case C: Same as case B, except the amount is $97,500. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. (Round "Per share" to 2 decimal places.) Case A: Total Per share Case B: Total Per share $ 154,500 615,000 296,000 Case C: Total Per share Preferred Shares Common Shares
Earnings Per Share Calculati ons Informatlon Provlded: Common Shares Balance at the beginning of the ye ar On July 1, the company sold an additional 5,000,000 shares 8,000,000 shares Each share sold for $3.00 and had a par value of $ 0.10 Preferrred Shares Beginning of the Year End of the Year 50,000 150,000 Dividends pald to Preferred Shareholders Dividends pald to Common Sharehol ders 650, 000 1,000, 000 Ex ce pt from Income Statement Income from Continuing Operations 22,000, 000 Income from Discontinued Ope rations (aftertaxImpact) 2,100, 000 Net Income 24,100, 000 Requlred: Based on the Information provided above: 1 Prepare the Joumal entry to record the July 1 sale of shares 2 Calculate the welghted average common shares outstandi ng 3 Calculate e arnings pershare (as required). Note: Show your detal led calaulatlons.
A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $25. What is the debit to Retained Earnings for the value of the stock dividend? O $64,000 O $320,000 O $1,600,000 O $40,000,000 79°F Rair
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024, 100 shares of preferred stock and 1,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,800 additional shares of common stock for $17 per share. Issue 200 additional shares of preferred stock for $28 per share. April 1 June 1 Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 200 shares of common treasury stock for $14 per share. October 1 Resell 100 shares of treasury stock purchased on August 1 for $16 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,000; Common Stock, $1,800; Additional Paid-in Capital, $18,300; and Retained Earnings, $10,300. Net income for the year…
Journalize and prepare a new stockholder's equity section dated 12/31/22.
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Compute for stockholders' equity using the following information: 5 points Bonds payable Additional paid in capital on common stock Donated capital Treasury stock at cost Common stock, par P1 Common stock option warrants Investments in marketable securities P120,000 20,000 16,000 8,000 200,000 40,000 28,000 6,000 54,000 Additional paid in capital from treasury stock Retained earnings

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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	$27,500	Correct
	Common Stock Dividend Distributable	Correct			$11,000	Correct
	Paid-in Capital in Excess of Par Value-Common Stock	Correct			$16,500	Correct

15-Feb: Distributed the stock dividend
Date	Account		DR		CR
15-Feb	Common Stock Dividend Distributable	Correct	$11,000	Correct
	Common Stock $10 Par Value	Correct				Incorrect