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-$5 par value, 525,000 sharesauthorized, 275,000 shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityPrepare the stockholders' equity section immediately after the stock dividend is distributed.Total paid-in capitalTotal stockholders' equity$ 1,375,000640,000908,000$ 2,923,000JUN COMPANYStockholders' EquityApril 2 (after stock dividend)

The dividend is a part of the profit distributed to the existing shareholders. The stock dividend is…

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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Upperchurch Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 130,e00 shares authorized, 50,0e0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 500,000 75,000 410,e00 Total stockholders' equity $ 985,000 During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,eee shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,98e of its treasury shares at $27 cash per share. 22 Sold 3,100e of its treasury shares at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Jan. Jan. Feb. July Aug. Sept. 28 Paid the dividend declared on September 5. 31 Closed the $214, eee credit balance (from net income) in…
The equity sections for Streamline Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1). Common stock-$8 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders Equity (December 31) Common stock-$8 par value, 120,000 shares authorized, 54,650 shares issued, 3,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($56,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $1.60 per share cash dividend, payable on January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $1.60 per share cash dividend, payable on April 10. July 5 Declared a $1.60 per share cash dividend, payable on July 10. July 31 Declared a…
Windsor, Inc. has 46,000 shares of $10 par value common stock outstanding. It declares a 13% 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.
The stockholders’ equity section of TVX Company on February 4 follows. Common stock—$5 par value, 150,000 shares authorized, 58,000 shares issued and outstanding $ 290,000 Paid-in capital in excess of par value, common stock 424,000 Retained earnings 553,000 Total stockholders’ equity $ 1,267,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock’s market value is $41 per share on February 5 before the stock dividend. 1 Record the declaration of a 2% stock dividend. 2 Record the distribution of a 2% stock dividend.
Explain how to calculate the after stock dividend to enter on the balance sheet for the below. At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($12 par value; 65,000 shares authorized, 30,000 shares outstanding) = $360,000Additional paid-capital = $120,000Retained earnings = $580,000 On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $15 per share. The market value of the stock on April 30 was $18 per share. For comparative purposes, prepare the Stockholders’ Equity section of the balance sheet immediately before the stock dividend and immediately after the stock dividend. Before Stock Dividend After Stock Dividend Contributed capital: Common stock $360,000 Additional paid-in capital 120,000 Retained earnings 580,000 Total Stockholders equity 1,060,000
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 190,000 shares authorized, 49,000 shares issued and outstanding $ 490,000 Common stock, $15 stated value, 240,000 shares authorized, 49,000 shares issued and ?? shares outstanding 735,000 Paid-in capital in excess of par—Preferred 39,000 Paid-in capital in excess of stated value—Common 147,000 Total paid-in capital $ 1,411,000 Retained earnings 340,000 Treasury stock, 8,000 shares (30,000 ) Total stockholders’ equity $ 1,721,000 Note: The market value per share of the common stock is $30, and the market value per share of the preferred stock is $21. Required What is the par value per share of the preferred stock? What is the dividend per share on…
Prepare journal entries for each of the following transactions of Telecommunications, Inc. Apr. 15 Declared a dividend of $1.43 per share on 11,000 shares of preferred stock outstanding. May 19 Paid the dividend declared on April 15.
Subject: accounting
Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock dividend to common stockholders " , market value was $ 40 .0.0 per share . Par value is $ 10.00 per share . There are 50.0, 000 shares of common stock outstanding .March 15: Issued a stock dividend in settlement of the dividend declared on March 1 .October 10 : Declared a 35%6 stock dividend to common stockholders ' . "The market value of theCommon stock is $ 30 per share . The par value is $ 10. 00 . There are 750 , 000 sharesOf common stock outstanding .October 25: issued a stock dividend in settlement of the dividend declared on October 10 .DateDescriptionDebitCredit1 - MarDescription :"15 - MarDescription10 - OctDescription !25 - OctDescription
(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.
Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock dividend to common stockholders " , market value was $ 40 .0.0 per share . Par value is $ 10.00 per share . There are 50.0, 000 shares of common stock outstanding .March 15: Issued a stock dividend in settlement of the dividend declared on March 1 .October 10 : Declared a 35%6 stock dividend to common stockholders ' . "The market value of theCommon stock is $ 30 per share . The par value is $ 10. 00 . There are 750 , 000 sharesOf common stock outstanding .October 25: issued a stock dividend in settlement of the dividend declared on October 10 .
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

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