Epic Incorporated has 10,300 shares of $2 par value common stock outstanding. Epic declares a 8% stock dividend onJuly 1 when the stock's market value is $11 per share. The stock dividend is distributed on July 20.Prepare journal entries for (a) declaration and (b) distribution of the stock dividend.View transaction listJournal entry worksheet12Record the declaration of a 8% stock dividend.Note: Enter debits before credits.DateJuly 01General JournalDebitCredit>

Introduction: Mostly, an organization declares dividends by way of two form: 1. Cash dividends and…

Answered: Epic Incorporated has 10,300 shares of…

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 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
Subject :- Accounting
On September 1, the board of directors of a company, declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date.Required:1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. need help
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Entries for Stock Dividends Madrid Corporation has 22,000 shares of $80 par common stock outstanding. On August 2, Madrid Corporation declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $96 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
Show Me How eBook Entries for stock dividends Instructions Chart of Accounts Journal Instructions Pro-Builders Corporation has 242,000 shares of $45 par common stock outstanding. On September 2, Pro-Builders Corporation declared a 2% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $48 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 titles. Journal JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT S Check My Work 3 more Check My Work uses remaining 2 3 4 DATE Print Item PAGE 10 ACCOUNTING EQUATION LIABILITIES ASSETS EQUITY X
Prepare journal entries for both of the following transactions: On Jan 1, ABC Company issued 300 $10 stocks with a $5 par value. On Dec 31st, ABC Company, declared a 3% cash dividend on each share.
On January 1, Pharoah Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 23,000 additional shares of common stock for $17 per share. June 15 July 10 Dec. (a) 1 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $2.90 per share to stockholders of record on December 31. Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit
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Entries for stock dividends Zurich Corporation has 30,000 shares of $90 par common stock outstanding. On August 2, Zurich Corporation declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $136 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.
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On December 31, Westworld Incorporated has the following equity accounts and balances. Preferred Stock Common Stock Treasury Stock $ 7,900 Retained Earnings 1,900 Paid-In Capital in Excess of Par Value, Common Stock 2,900 Paid-In Capital in Excess of Par Value, Preferred Stock Prepare the stockholders' equity section of Westworld's balance sheet. (Amounts to be deducted should be indicated by a minus sign.) WESTWORLD INCORPORATED Stockholders' Equity Section of Balance Sheet December 31 Total stockholders' equity $ 49,500 39,900 3,900

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