Tamarisk, Inc. has 50,000 shares of $10 par value common stock outstanding. It declares a 15% stock dividend on December 1 whenthe market price per share is $16. The dividend shares are issued on December 31.Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem.Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" forthe account titles and enter O for the amounts.)DateAccount Titles and ExplanationDebitCredit

DateAccount Titles and Explanation Debit Credit Dec. 1Stock Dividends$ 120,000[50,000×$16×15%]…

Answered: Tamarisk, Inc. has 50,000 shares of $10…

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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Urmilaben
On June 13, the board of directors of Siewert Incorporated declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
On March 8, Blossom inc., a publicly traded company, issued 5,700 preferred shares for cash of $31 per share. On April 20, when the shares were trading at $35, the company issued an additional 3,600 preferred shares in exchange for land with a fair value of $130,500. (a) Prepare the journal entries for each transaction. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles Debit Credit
On July 1, Martinez Corporation purchases 550 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 300 shares of the treasury stock for cash at $14 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1 Sept. 1 Account Titles and Explanation Debit Credit 1050 10000
Shamrock, Inc. issues 9,100 shares of $106 par value preferred stock for cash at $114 per share.Journalize the issuance of the preferred stock. (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.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
(c) Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Concord issued 10,400 shares of restricted stock units instead of 10,400 shares of restricted stock. (List all debit entries before credit entries. 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 o for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1,2025 Dec. 31, 2026 Account Titles and Explanation Debit Credi
Rahul
Answer both problems correctly and completely please
Please help me
Oriole Corporation has outstanding 489,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Declaration Date Distribution Date
Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
203

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