Following is the stockholders' equity section as of June 30.Common stock-$20 par value, 200,000 shares authorized, 80,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityOn July 1, the directors declare a 5% stock dividend distributable on July 31 to the July 18 stockholders of record. The stock's marketvalue is $50 per share on July 1 before the stock dividend.1. Prepare entries to record both the dividend declaration and its distribution.2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)Enter answers in the tabs below.Required 1 Required 2$ 1,600,000400,000750,000$ 2,750,000Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)Stockholders' Equity Section of the Balance SheetJuly 31Retained earningsCommon stockPaid-in capital in excess of par value, common stockTotal stockholders' equity$

The dividend is declared to the shareholders from the retained earnings of the business. The stock…

Answered: Following is the stockholders' equity…

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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Dawls Corporation reported stockholders' equity on December 31 of the prior year as follows: Common stock, $5 par value, 1,000,000 Shares authorized, 500,000 shares issued $ 2,500,000 Contributed capital in excess of par, common stock 1,000,000 Retained earnings 3,000,000 The following selected transactions occurred during the current year: Feb. 15 The board of directors declared a 5% stock dividend to stockholders of record on March 1, payable March 20. The stock was selling for $8 per share. May 1 Purchased 10,000 of its own shares for $ 6 per share May 15 Issued 5,000 preferred stock, $10 par per share, for $12 per share cash Jun 1 Sold 5,000 of the shares purchased on May 1 for $ 7 each Aug. 20 Sold remaining 5,000 shares, purchased on May 1, for $ 4 each. Required: Prepare journal entries for the above transactions, explanations are not required.
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 66,000 shares of $4 par common stock. 6,500 shares of $80 par, 8 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 6,500 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. question: Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders.
A company has the following transactions during the year related to stockholders’ equity. February 1 Issues 4,700 shares of no-par common stock for $16 per share. May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
A company's board of directors declared a $0.50 per share cash dividend on its $3 par common stock. On the date of declaration, there were 44,000 shares authorized, 18,000 shares issued, and 5,000 shares held as treasury stock.What is the entry when the dividends are declared? A. Dividends 6,500 Dividends Payable 6,500 B. Dividends 6,500 Cash 6,500 C. Dividends 22,000 Dividends Payable 22,000 D. Dividends 9,000 Cash 9,000
Weaver Corporation had the following stock issued and outstanding at January 1, Year 2: 1. 109,000 shares of $10 par common stock. 2.6,500 shares of $80 par, 4 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 6,500 shares of preferred stock and a $5 per share dividend for the common shareholders. The dividend will be paid on July 1 to the shareholders of record on June 20. Required Determine the total amount of dividend to be paid to the preferred shareholders and common shareholders. Preferred stock Common stock Total dividend
Morrison Corporation had the following common stock record during the current calendar year: Outstanding-January 1 2,000,000 Additional shares issued 3/31 100,000 Distributed a 10% stock dividend on 6/30 Additional shares issued 9/30 100,000 What is the number of shares to be used in computing basic EPS?
Answer full question please.
Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. 60,000 shares of common stock authorized, and 2,000 shares have been reacquired. Common Stock, $60 par $2,160,000 Paid-In Capital from Sale of Treasury Stock 108,000 Paid-In Capital in Excess of Par—Common Stock 720,000 Retained Earnings 1,274,000 Treasury Stock 51,000
The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry for the dividend declaration?
Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 20,000 shares of common stock authorized, and 2,000 shares have been reacquired. Common Stock, $30 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Stockholders' Equity Paid-in capital: Balance Sheet Paid-in capital, common stock Total paid-in capital Total Total stockholders' equity $480,000 29,000 80,000 226,000 18,000
The equity sections for Streamline Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1). Common stock-$8 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders Equity (December 31) Common stock-$8 par value, 120,000 shares authorized, 54,650 shares issued, 3,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($56,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $1.60 per share cash dividend, payable on January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $1.60 per share cash dividend, payable on April 10. July 5 Declared a $1.60 per share cash dividend, payable on July 10. July 31 Declared a…
April 1 Issued 21,000 additional shares of common stock for $17 per share June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,500 additional shared of common stock for $18 per share Dec. 15 Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31.

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