On July 1, Jones Corporation had the following capital structure:Common Stock, par $1; 8,000,000 authorized shares, 160,000 issued and outstandingAdditional Paid-in CapitalRetained EarningsTreasury StockRequired:Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimalplaces.)Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share.Case 21 The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share.ItemsNumber of Shares Outstanding iPar Per ShareCommon Stock AccountAdditional Paid-in CapitalRetained EarningsTotal Stockholders' EquityBefore StockTransactions$1.00108,000188,000$ 160,000108,000188,000NoneCase 1After 100%StockDividendCase 2After StockSplit

The stockholder's equity includes the amount contributed by shareholders issued in the form of…

Answered: On July 1, Jones Corporation had the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Two hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $3 par $270,000 Paid-In Capital from Sale of Treasury Stock 62,000 Paid-In Capital in Excess of Par—Common Stock 1,196,000 Retained Earnings 7,430,000 Treasury Stock 230,000 Stockholders' Equity Paid-in capital: Common Stock, $3 par (200,000 shares authorized, 90,000 shares issued) $fill in the blank 2 Excess over par fill in the blank 4 Paid-in capital, common stock $fill in the blank 6 From Sale of Treasury Stock fill in the blank 8 Total Paid-In Capital $fill in the blank 9 Retained Earnings fill in the blank 11 Treasury stock (5,000 shares at cost) fill in the blank 13 Total Stockholders' Equity $fill in the blank 14
The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following amounts: Preferred Stock (par $50; authorized 10,000 shares, ? issued 320300 Additional Paid-in Capital, Preferred 18710 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares) 83417 Retained Earnings 97062 Treasury Stock, 1,000 Preferred shares at cost 56225 What is the total paid in capital for Hadley Corporation?
Bower Corporation reported the following information: common stock, $1 par; 100,000 shares authorized; 67,000 shares issued and outstanding. Required: 1. What is the appropriate journal entry to record a 10% stock dividend if the market price of the common stock is $30 per share when the dividend is declared? (Record small stock dividend) 2. What is the appropriate journal entry to record a 30% stock dividend if the market price of the common stock is $30 per share when the dividend is declared? (Record large stock dividend) 3. How do these transactions affect Bower's total stockholders' equity? Total stockholders' equity is by these transactions.
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 6% cumulative, 100,000 shares authorized, 10,000 shares issued and outstanding $ 200,000 Common stock, $10 stated value, 200,000 shares authorized, 100,000 shares issued and ?? shares outstanding 1,000,000 Paid-in capital in excess of par—Preferred 25,000 Paid-in capital in excess of stated value—Common 500,000 Total paid-in capital $ 1,725,000 Retained earnings 420,000 Treasury stock, 1,000 shares (13,000 ) Total stockholders’ equity $ 2,132,000 Note: The market value per share of the common stock is $42, and the market value per share of the preferred stock is $26. Required What is the par value per share of the preferred stock? What is the dividend per…
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, Shares held as treasury stock, 10, 000 shares, cost $6 per share. Net income for the current year, $481,000. Common Stock account, $150,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $800,000. ?; issue price $8 per share. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.)
Dineshbhai
Can you answer dividend per share (b.) The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 170,000 shares authorized, 47,000 shares issued and outstanding $ 705,000 Common stock, $12 stated value, 220,000 shares authorized, 47,000 shares issued and ?? shares outstanding 564,000 Paid-in capital in excess of par—Preferred 37,000 Paid-in capital in excess of stated value—Common 141,000 Total paid-in capital $ 1,447,000 Retained earnings 320,000 Treasury stock, 3,000 shares (33,000 ) Total stockholders’ equity $ 1,734,000 Note: The market value per share of the common stock is $26, and the market value per share of the preferred stock is $19. Required What is the dividend per share on the preferred…
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Beacon Corporation issued a 8 percent stock dividend on 35,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $30 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. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.)…
A company with 118,808 authorized shares of $5 par common stock issued 31,951 shares at $16 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $33 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? Oa. $17,893 Ob. $21,088 Oc. $3,195 Od. $78,413
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost $108,000 15,390 632,400 32,000 (9,600) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was per share 4. The average issue price of the common stock was 5. The treasury stock transaction increased (decreased) stockholders' equity by 6. The…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS