The stockholders' equity section of Jun Co's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stockdividend. The stock's per share market value on April 2 is $20 (prior to the dividend).Common stock-$5 par value, 375,e00 sharesauthorized, 200,e00 shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earnings$1,000,000600,e00833, еee$2,433,000Total stockholders' equityPrepare the stockholders' equity section immediately after the stock dividend is distributed.JUN CO.Stockholders' EquityApril 2 (after stock dividend)Total paid-in capitalTotal stockholders' eauity< Prev8 of 19Next >8:40 PM3/27/2022FnLockInsertPrt ScF9F10F11F12F7F8F4E5F6+%23%24

(1) Increase in common stock = (200,000 Shares x 10%) x 5 par value = $100,000 (2) Decrease in…

Answered: The stockholders' equity section of Jun…

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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On January 1, the board of directors of Zion, Inc. declare a 10% stock dividend. On this date, there were 10,000 shares of $1 par value stock issued and outstanding and the market value was $5 per share. On March 15, the date of payment, Zion issued the stock. The entry necessary on March 15 would include a (credit/debit) to Common Stock Dividends distributable for O debit; $5,000 O debit; $1,000 O credit; $5,000 O credit; $1,000
Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the 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.
Top-Value Corporation has 256,500 shares of $35 par common stock outstanding. On September 2, Top-Value Corporation declared a 3% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $50 per share on September 2. Required: Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
(R) please answer asap.. The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock’s per share market value on April 2 is $10 (prior to the dividend). Common stock—$5 par value, 555,000 sharesauthorized, 290,000 shares issued and outstanding$ 1,450,000Paid-in capital in excess of par value, common stock670,000Retained earnings923,000Total stockholders' equity$ 3,043,000Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
On January 1, Oriole Corporation had 61,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Issued 11,250 additional shares of common stock for $11 per share. Declared a cash dividend of $1.90 per share to stockholders of record on June 30. Paid the $1.90 cash dividend. Issued 5,000 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. Apr. 1 June 15 July 10 Dec. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to O decimal places, e.g.…
The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend). Common stock-$5 par value, 415,000 shares authorized, 220,000 shares issued and outstanding Paid-in capital in excess of par value, common stock. Retained earnings Total stockholders' equity Prepare the stockholders' equity section immediately after the stock dividend is distributed. Total paid-in capital Total stockholders' equity JUN COMPANY Stockholders' Equity April 2 (after stock dividend) $ 0 $ 1,100,000 530,000 853,000 $ 2,483,000 0 4
Belkin Incorporated has 118,000 shares of $3 par value common stock outstanding. Belkin declares a 58% stock dividend on March 2 when the stock's market value is $90 per share. Prepare the journal entry for declaration of the stock dividend. View transaction list Journal entry worksheet 1 Record the declaration of a 58% stock dividend. Note: Enter debits before credits. Date March 02 Record entry General Journal Clear entry Debit Credit View general journal
Following is the stockholders' equity section as of June 30. Common stock-$20 par value, 200,000 shares authorized, 80,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity On July 1, the directors declare a 5% stock dividend distributable on July 31 to the July 18 stockholders of record. The stock's market value is $50 per share on July 1 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Enter answers in the tabs below. Required 1 Required 2 $ 1,600,000 400,000 750,000 $ 2,750,000 Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Stockholders' Equity Section of the Balance Sheet July 31 Retained earnings Common stock Paid-in capital in excess of par value, common…
The following information is available for Metloc Rock Corporation: Common Stock ($5 par) $1,620,000 Retained Earnings 1,205,000 An 17% stock dividend is declared and paid when the market value was $12 per share. Compute total stockholders' equity after the stock dividend. Total Stockholders' Equity
On January 1, Pharoah Company had 87000 shares of $10 par value common stock outstanding. On May 7, the company declared a 5% stock dividend to stockholders of record on May 21. Market value of the stock was $16 on May 7. The stock was distributed on May 24. The entry to record the transaction of May 24 would include a
On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $15 on June 13. Complete the below table to calculate the stock dividend.Prepare a journal entry that summarizes the declaration and distribution of the stock dividend.
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…

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