FUND.ACCT.PRIN.(LL)-W/ACCESS >CUSTOM<
FUND.ACCT.PRIN.(LL)-W/ACCESS >CUSTOM<
25th Edition
ISBN: 9781265661212
Author: Wild
Publisher: MCG CUSTOM
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Chapter 13, Problem 8E
To determine

Concept Introduction:

Stock Dividend:

Stock Dividend is a corporate action taken to provide dividends to shareholders in the form of Stocks, its usually declared as a Percentage of Current outstanding shares, which will be issued at market value or par value, depending on percent of shares to be issued. In case the percentage is 20-25% it will be large stock dividend and will be distributed at par value.

Requirement 1

Journal Entry for Declaration and Distribution of Stock Dividend

To determine

Concept Introduction

Stock Dividend:

Stock Dividend is a corporate action taken to provide dividends to shareholders in the form of Stocks, its usually declared as a Percentage of Current outstanding shares, which will be issued at market value or par value, depending on percent of shares to be issued.In case the percentage is 20-25% it will be large stock dividend and will be distributed at par value.

Requirement 1

Equity Section of Balance Sheet after stock Dividend is declared.

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Ron produces stereo speakers
1. Juroc Incorporated has identified the following cost drivers for its expected overhead costs for the year: Cost Pools Budgeted Cost Cost Driver Cost Driver Level Setup $ 200,000 Number of setups 1,000 Ordering 100,000 Number of orders 5,000 Maintenance 250,000 Machine hours 25,000 Power 50,000 Kilowatt hours 50,000 Total direct labor hours budgeted = 10,000 hours. The following data applies to Product X, one of the products completed during the year. Direct materials $ 5,000 Direct labor $ 6,000 Units completed 500 Direct labor hours 200 Number of setups 20 Number of orders 40 Machine hours 250 Kilowatt hours 500 If the activity-based cost drivers are used to allocate overhead cost, the total overhead cost of Product X will be:   2. Tremain Company produces and sells two products, Wood and Iron. The following information is available relating to its setup activities:   Wood Iron Units produced 240 19,000 Batch size (units) 20 500 Total…

Chapter 13 Solutions

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