Belkin Incorporated has 118,000 shares of $3 par value common stock outstanding. Belkin declares a 58% stock dividend on March 2when the stock's market value is $90 per share.Prepare the journal entry for declaration of the stock dividend.View transaction listJournal entry worksheet1Record the declaration of a 58% stock dividend.Note: Enter debits before credits.DateMarch 02Record entryGeneral JournalClear entryDebitCreditView general journal

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

Answered: Belkin Incorporated has 118,000 shares…

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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Entries for Stock Dividends Madrid Corporation has 25,000 shares of $80 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $110 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug. 2 Sept. 15 Oct. 8
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On March 15, American eagle declares a quarterly cash dividend of $0.035 per-share payable on April 13 to all stockholders of record on March 30. Record American Eagle‘s declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select “ no journal entry required” in the first account field enter your answer in dollars not in millions)
Entries for Stock Dividends Vienna Corporation has 31,000 shares of $40 par common stock outstanding. On August 2, Vienna Corporation declared a 3% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $62 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug. 2 Sept. 15 Oct. 8
Zen Aerospace Corporation reported the following equity account balances on December 31, 2022: Preferred shares, $3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 23,500 shares issued and outstanding Retained earnings 648,600 331,000 In 2023, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. 1 Purchased and retired 2,700 common shares at $36 per share. 14 The directors declared an 9% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $46.30 per share. 30 Date of record regarding the 9% share dividend. 5 Date of distribution regarding the 9% share dividend. Feb. July 6 Sold 5,700 preferred shares at $67 per share. Sept. 5 The directors declared a total cash dividend of $48,006 payable on October 5 to the September 20 shareholders of record. Oct. 5 The cash dividend declared on September 5 was paid. Dec. 31 Closed the $472,600…
Entries for Stock Dividends Vienna Corporation has 38,000 shares of $90 par common stock outstanding. On August 2, Vienna Corporation declared a 3% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $122 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug. 2 Sept. 15 Oct. 8
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On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
Entries for Stock Dividends Paris Corporation has 20,000 shares of $80 par common stock outstanding. On June 8, Paris Corporation declared a 4% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $118 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank, Jun. 8 Jul. 13 Aug. 12
eBook Show Me How Calculator Print Item Entries for stock dividends Instructions Chart of Accounts Journal Instructions Pro-Builders Corporation has 265,500 shares of $30 par common stock outstanding. On September 2, Pro-Builders Corporation declared a 1% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $50 per share on September 2. Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tides. Next Previous 2 more Check My Work uses remaining. Check My Work 10:5
Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issuance of the preferred, shares. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal

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