Emma Systems, Inc. declared and issued a 40 percent stock dividend. The company has 720,000 shares authorized and 36552 outstanding. The par value of the stock is $1.40 per share and the market value is $8 per share. To record the stock dividend, the debit to Retained Earnings would be $______
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Emma Systems, Inc. declared and issued a 40 percent stock dividend. The company has 720,000 shares authorized and 36552 outstanding. The par value of the stock is $1.40 per share and the market value is $8 per share.
To record the stock dividend, the debit to
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- Sunland Company has outstanding 2,800 shares of $100 par, 7% preferred stock and 15,900 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 2 decimal places, e.g. 6.85.) Paid- out $12,200 $29,200 $53,800 $78,500 $ $ $ $ Preferred, noncumulative, and nonparticipating Preferred 4.36 7 7 (a) 7 $ $ $ LA Common Assumptions 0 .4898 1.7449 3.0051 $ $ LA $ $ Preferred Preferred, cumulative, and fully participating 4.36 9.6429 12.25 (b) 17.84 $ $ LA $ CommoMartial Arts Schools, Inc. is authorized to issue 200,000 shares of $3 par common stock. The company issued 75,000 shares at $4 per share. When the market price of common stock was $6 per share, Martial Arts Schools declared and distributed a 12% stock dividend. Later, Martial Arts Schools declared and paid a $0.60 per share cash dividend. Read the requirements. Requirement 1. Journalize the declaration and the distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend. Accounts and Explanation Date Debit C) Credit Requirements 1. Journalize the declaration and the distribution of the stock dividend. 2. Journalize the declaration and payment of the cash dividend. Print Done XBelkin Incorporated has 118,000 shares of $3 par value common stock outstanding. Belkin declares a 58% stock dividend on March 2 when the stock's market value is $90 per share. Prepare the journal entry for declaration of the stock dividend. View transaction list Journal entry worksheet 1 Record the declaration of a 58% stock dividend. Note: Enter debits before credits. Date March 02 Record entry General Journal Clear entry Debit Credit View general journal
- 25.On January 1, 2004, Part Corporation had issued and outstanding 10,000 shares of P10 par common stock and retained earnings of P1,000,000. the following stockholders’ equity transactions were recorded: March 1: During the year, A stock dividend of 1,000 shares was declared when the market price was P26 per share. The dividend was distributed on April 1, 2004. July 1: A 40% stock dividend was declared when the market price was P45 The dividend was distributed on July 15, 2004. Part suffered a net loss of P12,000 in 2004, paid no cash dividends, and made no per share. additional issues of stock for cash. What is the balance in the retained earnings account in Part on December 31, 2004? (a) P918,000 (b) P922,000 (c) P764,000 (d) P782,000Pharoah Company has 496000 shares of $10 par value common stock outstanding. During the year Pharoah declared a 15% stock dividend when the market price of the stock was $34 per share. Three months later Pharoah declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $2529600. $491040. $2871840. $467600.Fancy Clothing Company is authorized to issue 110,000 shares of $2 par common stock. The company issued 5,100 shares at $6 per share, when the market price of the common stock was $10 per share. Later, Charter declared and paid a $0.50 per share cash dividend. The journal entry to declare the cash dividend would be: O Dividends Payable - Common 55,000 Cash Dividends O Cash Dividends OOO Dividends Payable - Common O Cash Dividends Dividends Payable - Common O Dividends Payable - Common Cash Dividends 2,550 55,000 2,550 55,000 2,550 55,000 2,550
- naruBradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would: a. Credit Cash $250,000 and debit Paid-in capital $250,000 b. Credit Cash $250,000, debit Common stock $100, and debit Paid-in capital $249,900 c. Debit Cash $250,000, credit Common stock $100, and credit Paid-in capital $249,900 d. Debit Cash $250,000, credit Paid-in capital $100, and credit Common stock $249,900Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $30, 240; fourth year, $59,750. Calculate the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
- Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $28,910; fourth year, $55,380. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".Atkins Company has 20,000 shares of $5 par value common stock outstanding prior to declaring a 10% common stock dividend. The market value of the common stock on the declaration date was $11. Which of the following statements correctly describes the effect of the common stock dividend? A- Total stockholders' equity decreased by $10,000 B- Retained earnings decreased by $22,000 C- Retained earnings decreased by $10,000 D- Total stockholders' equity decreased by $22,000Wildcat, Inc. declared a 10% stock dividend when it had 250,000 shares of $1 par value common stock outstanding. The market price per share of common stock was $10 per share when the dividend was declared. The entry to record the stock dividend would include a credit to: O Common Stock $250.000. O Retained Earnings $250,000. O Retained Earnings $25,000. O Additional Paid in Capital $250,000. O None of the above.
