A company declared cashdividends of $0.20 per share. Ifthere are 500,000 shares ofcommon stock authorized, 100,000shares issued, and 80,000 sharesoutstanding at the date ofdeclaration, what is the amount thatthe company should record for thedividend?J/ 2:42 p

The entity pays dividends to the shareholder as a consideration for providing the funds for…

Answered: A company declared cash dividends of…

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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The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
A corporation sold 9,500 shares of its $10 par value common stock at a cash price of $11 per share. The entry to record this transaction would include: Multiple Choice A credit to Common Stock for $95,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $104,500. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $199,500. A credit to Common Stock for $104,500. A debit to Cash for $95,000. O
Prepare the journal entry to record Rony Company's issuance of 35,000 shares of its common stock assuming the share have a : a. $4par value and sell for $16 cash per share b. S4 stated value and sell for $16 per share.
Fancy Clothing Company is authorized to issue 110,000 shares of $2 par common stock. The company issued 5,100 shares at $6 per share, when the market price of the common stock was $10 per share. Later, Charter declared and paid a $0.50 per share cash dividend. The journal entry to declare the cash dividend would be: O Dividends Payable - Common 55,000 Cash Dividends O Cash Dividends OOO Dividends Payable - Common O Cash Dividends Dividends Payable - Common O Dividends Payable - Common Cash Dividends 2,550 55,000 2,550 55,000 2,550 55,000 2,550
OM, Inc. was organized on January 1, 20X7. The firm was authorized to issue 1,000,000 shares of $2 par value common stock. During 20X7, OM had the following transactions relating to stockholders' equity: Issued 20,000 shares of common stock at $7 per share. Issued 40,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is the total amount recorded in the Common Stock account at the end of 20X7?
Prepare the journal entry to record Jevonte Company’s issuance of 41,000 shares of its common stock assuming the shares have a: $3 par value and sell for $19 cash per share. $3 stated value and sell for $19 cash per share
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:
If Dakota Company issues 2,900 shares of $9 par common stock for $55,100, a. Common Stock will be credited for $55,100. b. Cash will be debited for $26,100. c. Paid-In Capital in Excess of Par will be credited for $29,000. d. Paid-In Capital in Excess of Par will be credited for $26,100.

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A company declared cash dividends of $0.20 per share. If there are 500,000 shares of common stock authorized, 100,000 shares issued, and 80,000 shares outstanding at the date of