Quirk Corporation issued a 100% stock dividend of its common stock which had a par value of $10 before and after the dividend. Atwhat amount should retained earnings be capitalized for the additional shares issued?O Fair value on the payment datePar valueO There should be no capitalization of retained earningsO Fair value on the declaration dateeTextbook and MediaSave for LaterAttempts: 0 of 1 usedSubmit Answer77°F ^ Q)e here to search1O行

Since the shares have been issued a dividend which is::100% of par value.. The amount to be…

Answered: Quirk Corporation issued a 100% stock…

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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Required: Prepare general journal entries for the following transactions involving short-term securities (assume no investments were held prior to the following transactions): (a) Feb 12: Purchased 600 Flipper Corp shares at $50 per share. Commission Fee was $50. (b) Feb 27: Purchased 200 Jason Corp shares at $30 per share, no commission (c) Mar 16: Received a $4 per share dividend on the Flipper Corp shares. (d) Mar 31: Sold 150 shares of Flipper Corp at $60 per share.
Vincent Corporation has 93,000 share of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 4% stock dividend to be issued on July 30 to stockholders of record July 15. The market price of the stock was $124 a share on June 30. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Journalize the entry required on June 30. June 30 Journalize the entry required on July 15. July 15 Journalize the entry required on July 30. July 30 00
Question Pharoah Inc. issued 12900 shares of no-par common stock with a stated value of $5 per share. The market price of the stock on the date of issuance was $15 per share. The entry to record this transaction includes a O credit to Common Stock for $64500. O debit to Paid-in Capital in Excess of Par for $193500. O debit to Cash for $64500. O credit to Common Stock for $193500. eTextbook and Media Ⓒ⠀
The Pandora Company made the following errors on 12/31/19: • Recorded the expiration of prepaid insurance by debiting Sales Revenue and crediting Depreciation Expense for $12. • Recorded the issuance of 10-year bonds at par value by debiting Unearned Revenue and crediting Common Stock for $13. 12/31/19 Total Stockholders' Equity is in error by: Select one: a. $12 O b. $0 c. $13 d. $2 e. $25
Detcrmine the basis of stock in the tands of the sharcholder in cach of the followinginstances. Assume that the 80% rule is met in all cases.a. Contribution of property with a basis of $1.000 and an FMV of $1.400.b. Contribution of property with a basis of $3,000 and an FMV of $3.800. The stockholderalso received $500 cash from the corporation as part of the stock transaction.Contribution of property with a basis of $8,200 and an FMV of $12.500. The stock-holder also received property with an kiMV of $1.700 from the corporation as part ofthe stock transachion.d. Contribution of a building with anFMV of $200.000. a mortgage assumed by thecorporation) of $100.000 and a basis of S19s onContribution of a building with an FMV of $1.700.000, a mortgage (assumed by thecorporation) of $1.000.000, and a basis of $635.000.
I need answer for d) part only 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)
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! Required information [The following information applies to the questions displayed below.] a. On March 22, purchased 880 shares of RPI Company stock at $13 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 440 shares of RPI stock for $23 per share. Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year. View transaction list
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Stock Investments Apple stock Chipotle stock Under Armour stock View transaction list Exercise 15-10 (Algo) Fair value adjustment to stock investments with insignificant influence LO P4 Prepare the December 31 adjusting entry to report these investments at fair value. Cost $ 5,300 3,400 10,100 Journal entry worksheet < 1 Fair Value $ 9,300 1,500 14,600 Note: Enter debits before credits. Record the year-end adjustment to fair value, if any.
please make sure you are using the values in this question because they are differerent
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