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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On January 1, Year 1, a company had the following transactions: - Issued 10,000 shares of $2.00 par common stock for $12.00 per share. - Issued 3,000 shares of $50 par, 6% cumulative preferred stock for $70 per share. Purchased 1,000 shares of previously issued common stock for $15.00 per share. No other shares of stock were issued or outstanding. The company had the following dividend information available: Year 1- No dividend paid Year 2 Paid $2,000 total dividends Year 3- Paid $20,000 total dividends Year 4 paid $25,000 total dividends Fill in the correct values for each year. If your answer is zero, please enter "0". Year 1 Year 2 Common stock dividend Preferred stock dividend Dividends in arrears Year 3 §§ $ $ $ Year 4
A company whose stock is trading at $10 per share has 1,000 shares of $1 par common stock outstanding when the board of directors declares a 30% common stock dividend. Which of the following adjustments should be made when recording the stock dividend? O Retained earnings is debited for $300. O Common stock is debited for $3,000. O Additional paid-in capital is credited for $2,700. O Treasury stock is debited for $300.
A company has 293,000 shares of common stock authorized, 253,000 shares issued, and 73,000 shares of treasury stock. The company's board of directors has declared a dividend of 65 cents per share. What is the total amount of the dividend that will be paid? Amount of dividend
A company declared a cash dividend of $.35 per common share to the shareholders of record on July 15. The cash dividend will be paid on July 31. This company has 500,000 shares authorized and 100,000 shares outstanding. What is the entry to record the payment on the payment date? O debit Common Dividend Payable 35,000 and credit Cash 35,000 O debit Common Dividend Payable 175,000 and credit Cash 175,000 O no entry on payment date O debit Retained Earnings 175,000; credit Common Dividend Payable 175,000 79°F Rain t
Entity H issued 9,000 shares of its $1 par value common stock for $20 per share. Which of the following statements is correct? Hint: Make the journal entry first. Common stock should be credited for $180,000. Cash should be credited for $180,000. Paid-in-capital-in-excess-of-par-value should be debited for $171,000. Common stock should be credited for $9,000.
A company with 100,000 authorized shares of $6 par common stock issued 35,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $22 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
A corporation sold 9,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction. would include: Multiple Choice A debit to Cash for $90,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $117,000. A credit to Common Stock for $117,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $207,000. A credit to Common Stock for $90,000.
25 )
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?
The Board of Directors of ABC Corporation declared a dividend on March 6, 2XX1, to shareholders of record on April 7, 2XX1, P18 per share, payable on May 1, 2XX1. 100,000 ordinary shares were outstanding from March 6 to April 28 and 110,000 ordinary shares outstanding from April 29 to May 1. Compute for the total cash dividends distributed to shareholders.
PROVIDE COMPUTATION
On July 3, the Southside Company declared a cash dividend of $0.75 per share. There are 45,000 shares outstanding. What is the journal entry that should be recorded?

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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