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: $47,050. $48,050. $39,525. $40,300. $79,825 3b. On September 1, Ziegler Corporation had 71,000 shares of $5 par value common stock, and $213,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice No entry is made for this transaction. Debit Retained Earnings $355,000; credit Stock Split Payable $355,000. Debit Retained Earnings $1,065,000; credit Common Stock $1,065,000. Debit Retained Earnings $1,065,000; credit Common Stock Split Distributable $1,065,000. Debit Retained Earnings $355,000; credit Common Stock $355,000.
3a. 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:
$47,050.
$48,050.
$39,525.
$40,300.
$79,825
3b.
On September 1, Ziegler Corporation had 71,000 shares of $5 par value common stock, and $213,000 of
No entry is made for this transaction.
Debit Retained Earnings $355,000; credit Stock Split Payable $355,000.
Debit Retained Earnings $1,065,000; credit Common Stock $1,065,000.
Debit Retained Earnings $1,065,000; credit Common Stock Split Distributable $1,065,000.
Debit Retained Earnings $355,000; credit Common Stock $355,000.
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