Alpha Corporation has 25 million shares of common stock issued and outstanding. On August 31 the Board of Directors voted a $1.20 per share cash dividend to stockholders of record as of September 5, payable September 30.Instructions(a) Prepare the journal entry for each of the dates above assuming the dividend represents a distribution of earnings.(b) Prepare the journal entry for each of the dates above assuming the dividend were a liquidating dividend

Q: Weaver Corporation had the 1.97,000 shares of $9 par common stock. 2.5,000 shares of $100 par, 7…

A: A common stock is a share of a company's ownership and gives the shareholder a dividend, which vary…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: The dividend is paid to the stockholders as the return on the investment. It is paid out of the…

Q: At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions…

A: Stockholders equity represents the capital of the company that have been issued by the company in…

Q: Divine Apparel has 2,900 shares of common stock outstanding. On October 1, the company declares a…

A: Dividend: Dividend is a part of income paid to shareholders of an organization for the investment…

Q: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million,…

A: General JournalDate: June 13Debit: Paid-in capital - excess of par ($25 million)Credit: Common stock…

Q: Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share…

A: Dividend refers to the amount of profit that the shareholders earn on each share held/purchased by…

Q: Walnut Co held its quarterly dividend meeting on December 8.  At that meeting, the directors decided…

A: Cash dividends are distributions of profits to shareholders, typically paid out of a company's…

Q: Required: Assume Malestrom declared the entire dividend ($1.80 per share) on February 20 and…

A: Dividend is amount of cash, shares and rewards that a company gives to its shareholders. A company's…

Q: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 80 million,…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: Before preparing financial statements for the current year, the chief accountant for Wildhorse Ltd.…

A: The journal entry which is required to be made at the time of the dividend is required to be…

Q: Concord Corporation has 48,000 shares of $10 par value common stock outstanding. It declares a 12%…

A: Stock Dividend: It implies the distribution of dividends to the company's shareholders in the form…

Q: On November 12th, Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00…

A: Total Outstanding shares = 12,000 Held as treasury share = 2,000 Cash dividend is given total share…

Q: The board of directors of Capstone Incorporated declared a $0.60 per share cash dividend on its $1…

A: Dividend is the amount of profit distributed to the shares outstanding as on the record date. It…

Q: On June 1, a board of directors declared a $3 per share cash dividend, payable on June 30 to all…

A: Total amount of dividend = No. of shares issued and outstanding x dividend per sahre = (1000 shares…

Q: On January 1, Sage Hill Corporation had 79000 shares of $10 par value common stock outstanding. On…

A: Stock Dividend is a dividend in the form of shares declared and issued by the corporation to the…

Q: n October 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its…

A: The dividend is declared to the shareholders from the retained earnings of the business. The stock…

Q: On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: On June 13, the board of directors of Siewert Incorporated declared a 5% stock dividend on its 60…

A: Note: When stock dividend is issued then retained earnings is decreased by the market value of the…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: Introduction: Dividend is the distribution of profits earned by the company, to its stockholders as…

Q: On april 12, hobson corporation declared a quarterlu dividend of 0.05 per share on its 200,000…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued. and outstanding Paid-in…

A: A dividend is paid by a company to its stockholders. A company can pay dividends in cash, property,…

Q: Prepare journal entries for each of the following transactions. June 25 Declared a 7% stock…

A: Given 7% stock dividend = 4200 shares No. of shares = 60000 Market value = $14 Par value = $13

Q: Nash Corporation has 10 million shares of common stock issued and outstanding. On June 1, the board…

A: Dividend is the amount of return that an entity pays to the common and preferred shareholders of the…

Q: Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2…

A: Given, Number of stocks outstanding = 6,000 Dividend declared = $2

Q: On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million,…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: On January 1, Larkspur Corporation had 99000 shares of $10 par value common stock outstanding. On…

A: Stock dividend is the form of dividend declared and issued by the company to the shareholders. A…

Q: On January 1, Icecap had 7,900 shares of $2 par common stock issued and outstanding. The following…

A: The dividend is the amount of profit the company distributes to the shareholders of the company. It…

Q: Monty Inc. has 5,400,000 shares of common stock issued and outstanding. On April 1, the board of…

A:

Q: Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15%…

A: Dividend :- This can be best understood with the help of an illustration. A person with surplus…

Q: Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock…

A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…

Q: op-Value Corporation has 256,500 shares of $35 par common stock outstanding. On September 2,…

A: Journal: It is the first step of recording financial transactions. It is used to prepare the…

Q: Pro-Builders corporation has 1,500,000 shares par common stock outstanding. On September 2, pro-…

A: Definition: Stock dividends: Stock dividends are the number of shares issued by a company to the…

Q: Ivanhoe Corporation has 10.50 million shares of common stock issued and outstanding. On June 1, the…

A: The journal entries are prepared to record the transactions on a regular basis. The dividend is…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: At June 30th, Tidal Co. has 22,000 shares of common stock authorized, 17,000 issued, and 16,500…

A: The dividend is declared and paid to the shareholders from the retained earnings of the business.…

Q: On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million,…

A:

Q: Concord Corporation has 11 million shares of common stock issued and outstanding. On June 1, the…

A: Dividend gets paid to the investor in return of the amount invested. Dividend can be of two types…