Qw.19. BOn January 1, 2022, Oriole Corporation had the following stockholders' equity accounts.Common Stock (no par value, 91,000 shares issued and outstanding)Retained EarningsDuring the year, the following transactions occurred.Feb. 1Mar. 1Apr. 1July 131Dec. 131$1,375,000504,000Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.Paid the dividend declared in February.Announced a 3-for-1 stock split. Prior to the split, the market price per share was $38.Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price ofthe stock was $10 per share.Issued the shares for the stock dividend.Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023.Determined that net income for the year was $365,000. -76ORIOLE CORPORATIONPartial Balance Sheet!!!Prepare the stockholders' equity section of the balance sheet at March 31. (Enter account name only and do not provide descriptiinformation.)

Stockholders' equity: shareholders' equity is the remaining amount of assets available to…

Answered: Prepare the stockholders' equity…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 21E

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(b) ✓ Your answer is correct. (c) Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part) KK V eTextbook and Media List of Accounts Preferred Stock Mar. 1 Your answer is partially correct. Nov. 1 Dec. 31 Bal Paid-in Capital in Excess of Par-Preferred Stock Mar. 1 Nov. 1 Dec. 31 Bal. Common Stock Jan. 10 Apr. 1 May 1 Aug. 1 Sept. 1 Dec. 31 Bal. Jan, 10 Apr. 1 May 1 V Aug 1 Paid-in Capital in Excess of Stated Value-Common Stock Sept. 1 V ✓ V V V v V Dec. 31 Bal V 440000 Sunland Company Balance Sheet (Partial) December 31, 2022. 150000 590000 22000 22500 44500 241500 73500 255000 30000 30000 630000 241500 14000 106250 15000 30000 Attempts: 5 of 5 used 406750 Attempts: 4 of 5 used Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question)
The following data were taken from the balance sheet accounts of Culver Corporation on December 31, 2019. Current assets $512,000 Debt investments (trading) 577,000 Common stock (par value $10) 471,000 Paid-in capital in excess of par 154,000 Retained earnings 890,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) A 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $42. (b) The par value of the common stock is reduced to $2 with a 5-for-1 stock split. (c) A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $98,000 and a fair value of $130,000.
The following data were taken from the balance sheet accounts of Pronghorn Corporation on December 31, 2019. Current assets $ 554,000 Debt investments (trading) 596,000 Common stock (par value $ 10) 455,000 Paid-in capital in excess of par 148,000 Retained earnings 800,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $ 37. (b) The par value of the common stock is reduced to $ 2 with a 5-for-1 stock split. (c) A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $ 105,000 and a fair value of $ 133,000. No. Date Account Titles and…
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Prepare the stockholders' equity section of the balance sheet at March 31. (Enter account name only and do not provi information.) ORIOLE CORPORATION Partial Balance Sheet