!Required InformationExercise 13-10 (Algo) Small stock dividend LO P2[The following information applies to the questions displayed below.]The stockholders' equity section of TVX Company on February 4 follows.Common stock-$15 par value, 150,000 shares authorized, 64,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityOn February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $41 per share on February 5 before the stock dividend.Exercise 13-10 (Algo) Part2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)TVX COMPANYStockholders' Equity Section of the Balance SheetFebruary 28Common stock-$15 par valuePaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equity$ 960,000425,000549,000$ 1,934,000$0

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

Answered: Required Information Exercise 13-10…

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

Exercise 13-13 (Static) Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 72,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $24 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. $ 720,000 216,000 864,000 $ 1,800,000 Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Stockholders' Equity Section of…
heducation.com/ext/map/ex.n_CO_Conextem_ si Saved mecation.com 202 Stream Launch Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 500,000 75,000 410,000 $ 985,000 Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid…
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
j
j
MC Qu. 11-153 A company has outstanding... A company has outstanding 13.50 million shares of $5.50 par common stock and 1.7 million shares of $4.70 par preferred stock. The preferred stock has an 9% dividend rate. The company declares $370,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference? Multiple Choice O Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 before the end of the current accounting period. Common stockholders will receive nothing. Preferred stockholders will receive $33,300 or 9% of the total dividends. Common stockholders will receive the remaining $336,700. Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 sometime in the future before common stockholders will receive anything. Preferred stockholders will receive the entire $370,000, but will receive nothing more relating to this dividend…
Subject-Acounting
Exercise 10-13 (Algo) Record stock dividends and stock splits (LO10-6) On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a stock dividend on its 11,000, $2 par, common shares. The market price of the common stock is $31 on this date. Required: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Next >
26
Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $11 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $30,800 12,100 51,200 4 JAE Corporation completed the following transactions during Year 1: 1. Issued 1,150 shares of $11 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below.…
Do not give answer in image
A

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