At June 30th, Tidal Co. has 22,000 shares of common stock authorized, 17,000 issued, and 16,500 shares outstanding. On that date, Tidal's board of directors declared a cash dividend of $1.10 per share of common stock. What is the total amount of the cash dividend Tidal will pay to its common shareholders?
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- On January 1st, 2021, Bayshore Boats, Inc. had 30,000 shares of common stockoutstanding. On February 1st the corporation issued 10,000 additional commonshares to raise cash. On May 1st, the corporation declared and issued a 5% stockdividend. On November 1st, the corporation issued 8,000 shares of common stock.On December 1st , the corporation issued a 4:1 stock split.InstructionsCompute the weighted average number of shares to be used in computing earningsper share for 2021A 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 dividendOn Oct. 1, 2022, the board of directors of Purple Inc. declared a $3.00 per share cash dividend on 95,000 shares of $1 par value common stock. The dividend will be paid to stockholders who own shares on Dec. 31, 2022. The dividend will be paid on Feb. 1, 2023. What journal entry, if any, is required on each of the following dates? a. Oct. 1, 2022 b. Dec. 31, 2022 c. Feb. 1, 2023
- On January 1, 2029, Ortiz LLC issued 5,000 shares of $5 per value common stock for cash at $10 per share. On December 31, 2019, Ortiz LLC has 1,000 shares of common stock outstanding. It declares a $3 per share cash dividend on November 15 to stockholders to record on December 31. The dividends are paid on December 31.The charter of a corporation provides for the issuance of 114,964 shares of common stock. Assume that 44,309 shares were originally issued and 3,848 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?On October 1, 2024, Carla Vista Co. declared an annual cash dividend to preferred shareholders of $3 per share; at the time the dividend was declared, there were 2.500 preferred shares issued and outstanding. The date of record for the dividend was December 1 and the dividend was paid on December 31. On October 31, 2024 the company also declared a 3% stock dividend for common shareholders; at the time the stock dividend was deared the common shares were trading at $10 per share and Carla Vista had 22.000 commons shares issued and outstanding. The date of record was December 15 and the issuance date of the dividend was December 31. (a) Record any and all journal entries that occurred on each of the dates indicated above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts. List all debit entries before credit entries. Record journal entries in…
- On April 1, 2019, Kelly Corporation began operations and authorized 100,000 shares of $5 par value common stock. The company engaged in the following transactions:April 1 Issued 20,000 shares of common stock for $200,000.April 15 Issued 10,000 shares of common stock for $125,000.May 12 Purchased 2,500 shares of common stock for $75,000.June 30 The board of directors declared a $0.20 per share cash dividend to be paid on July 15 to shareholders of record on July 51. Prepare journal entries for the above transactions.2. Prepared the stockholders’ equity section of Kelly Corporation’s balance sheet as of June 30, 2019. Net income for the period April 1 through June 30 was $150,000.3. What effect, if any, will the cash dividend declaration on June 30 have on Kelly Corporation’s net income, retained earnings, and cash flows?Concord Corporation has 1,000,000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 625,000 shares issued and outstanding. On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2020. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) (c) Debit CreditA company's board of directors votes to declare a cash dividend of $1.15 per share of common stock. The company has 23,000 shares authorized, 18,000 issued, and 17,500 shares outstanding. The total amount of the cash dividend is:
- Following is a recent Tangent press release: MINNEAPOLIS, March 12, 2020 /PRNewswire/—The board of directors of Tangent Corporation has declared a quarterly dividend of 82 cents per common share. The dividend is payable June 10, 2020, to shareholders of record at the close of business May 20, 2020. Prepare the journal entries Tangent used to record the declaration and payment of the cash dividend for its 500 million shares.Blue Corporation had 306,000 shares of common stock outstanding on January 1, 2025. On May 1, Blue issued 33,000 shares. (a) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued for cash. Weighted-average number of shares outstanding I (b) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued in a stock dividend. Weighted-average number of shares outstandingThe annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $140.000 in the current year. It also declared and paid dividends on common stock in the amount of $2.40 per share. During the current year, Sneer had 1 milion common shares authorized; 340,000 shares had been issued; and 136,000 shares were in treasury stock. The opening balance in Retained Earnings was $840,000 and Net Income for the current year was $340,000 Required: 1. Prepare journal entries to record the declaration, and payment, of dividends on (a) preferred and (b) common stock. 2. Using the information given above, prepare a statement of retained earnings for the year ended December 31 3. Prepare a journal entry to close the dividends account.