KExercise 11-15A (Algo) Accounting for stock dividends LO 11-7Beacon Corporation issued a 4 percent stock dividend on 26,500 shares of its $8 par common stock. At the time of the dividend, themarket value of the stock was $24 per share.Required:a. Compute the amount of the stock dividend.b. Show the effects of the stock dividend on the financial statements using a horizontal statements model.Complete this question by entering your answers in the tabs below.Required A Required BCompute the amount of the stock dividend.Stock dividend1111< Required ARequired B >< Prev9 of 12 ⠀⠀⠀Next Exercise 11-15A (Algo) Accounting for stock dividends LO 11-7Beacon Corporation issued a 4 percent stock dividend on 26,500 shares of its $8 par common stock. At the time of the dividend, themarket value of the stock was $24 per share.Required:a. Compute the amount of the stock dividend.b. Show the effects of the stock dividend on the financial statements using a horizontal statements model.Complete this question by entering your answers in the tabs below.Required A Required BShow the effects of the stock dividend on the financial statements using a horizontal statements model.Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an opactivity (IA), or financing activity (FA). Not all cells require input.Assets = LiabilitiesCash++Balance SheetCommonStockBEACON CORPORATIONHorizontal Statements ModelStockholders' EquityPaid InCapital inExcess+RetainedEarningsRevenueIncome Statement< Required AExpense= Net IncomeRequired B >Statement of CashFlow

Assets have debit balance while liabilities and equity have credit balance. As per dual concept of…

Answered: Exercise 11-15A (Algo) Accounting for…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

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Chapter1: Financial Statements And Business Decisions

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Question 8 - Equity Huntless Ltd has the following items in its accounting records for the current year: 1. 50,000 $3 issued and paid up ordinary shares 2. Dividends declared and paid during the year $35,000 3. Transfer from Retained earnings to General reserve $12,000 4. Net profit for the year $35,000 5. Opening Retained earnings $50,000 Required: Prepare journal entries to record items 1,2 and 3. Date / Accounts Debit Credit Show the note to the financial statements providing details of the movements in the Retained Earnings account during the year.
Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
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QUESTION 1 Ava Consulting issued 1180 shares of previously unissued common stock with a par value of $1. The selling price for the stock was $5 share The credit to Additional Paid in Capital - Common Stock would be $ per
Exercise 13-7 Financial statement impact of dividends and splits P2 For each dividend and stock split issued, determine the impact-increase, decrease, or no effect-on total assets, total liabilities, and total equity. quan $5,000 cash dividend 7% stock dividend 40% stock dividend 7-for-1 stock split Total Assets Total Liabilities Total Equity
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Use the following information for the Exercises below. [The following information applies to the questions displayed below.] York's outstanding stock consists of 80,000 shares of 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: 2015 total cash dividends $ 20,000 2016 total cash dividends 28,000 200,000 350,000 2017 total cash dividends 2018 total cash dividends References Section Break Use the following information for the Exercises below. Exercise 11-8 Dividends on common and noncumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. Assume that the preferred stock is noncumulative. (Round your "Dividend per Preferred Share" answers to 3 decimal…
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