Homework Answers
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When stock dividends are distributed, stock dividends distributable is decreased. Retained earnings account is decreased for cash dividends, not stock dividends. Comment if you face any issues |
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When stock dividends are distributed O stock dividends distributable is decreased. O common shares is debited....
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On...
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On that day, the board of directors declared a 10% stock dividend when the market value of each share was $9. The stock dividend is to be distributed on July 20 to stockholders of record on July 10. The entry to record the dividend declaration is: a) Debit Retained Earnings $18,000; credit Common Stock Dividends Distributable $4,000; credit Paid-In Capital in Excess of Par Value,...
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of...
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
Which of the following statements is correct? None of these statements are correct The Common Stock...
Which of the following statements is correct? None of these statements are correct The Common Stock Dividends Distributable account is shown as a current liability on the balance sheet When a stock dividend is declared, the total amount debited to Retained Earnings is the par value, or stated value, of the shares to be issued When a stock dividend is distributed, no assets leave or enter the corporation
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On that day, the board of direc...
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On that day, the board of directors declared a 10% stock dividend when the market value of each share was $9. The stock dividend is to be distributed on July 20 to stockholders of record on July 10. The entry to record the dividend declaration is: No entry is made until the stock is issued. Debit retained Earnings $18,000; credit Common Stock Dividends Distributable $4,000;...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. 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...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared a 5% stock dividend to be distributed on March 30. The market value of the shares was $7 on January 1, $9 on March 17 and $12 on March 30. 42. The journal entry to record the stock dividend declaration is: (a) Cr Mar-30 Stock dividends Dr 144000 Cash 144000 (b) Mar-30 Stock dividends 144000 Stock dividends distributable 144000 (c) Jan-01 Stock dividends 84000...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000...
--- Bron Community College Preferred Stock (14,000 shares issued) $700,000 Common Stock (240,000 shares issued) 2,...
--- Bron Community College Preferred Stock (14,000 shares issued) $700,000 Common Stock (240,000 shares issued) 2,400,000 Pidin Capital in Bress of Par-Preferred Stock 240,000 Pild-in Capital incess of Par-Common Stock 380,000 Common Stock Dividends Distributable 240,000 Retained Earnings 966,500 A review of the accounting records reveals the following 1. No errors have been made in recording 2020 transactions or in preparing the closing entry for net income Preferred to $50 per on, and Cumulative; 14,000 shares have been outstanding since...
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000...
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general Journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1,095,000; credit Common Stock $1,095,000. 0 No entry is made for this transaction O Debit Retained Earnings $365,000 Credit Common Stock $365.000 0 0 Debit Retained...
Entries for Stock Dividends Zurich Corporation has 25,000 shares of $20 par common stock outstanding. On...
Entries for Stock Dividends Zurich Corporation has 25,000 shares of $20 par common stock outstanding. On June 8, Zurich Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $24 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no...
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. 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...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared a 5% stock dividend to be distributed on March 30. The market value of the shares was $7 on January 1, $9 on March 17 and $12 on March 30. 42. The journal entry to record the stock dividend declaration is: (a) Cr Mar-30 Stock dividends Dr 144000 Cash 144000 (b) Mar-30 Stock dividends 144000 Stock dividends distributable 144000 (c) Jan-01 Stock dividends 84000...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000...
--- Bron Community College Preferred Stock (14,000 shares issued) $700,000 Common Stock (240,000 shares issued) 2,400,000 Pidin Capital in Bress of Par-Preferred Stock 240,000 Pild-in Capital incess of Par-Common Stock 380,000 Common Stock Dividends Distributable 240,000 Retained Earnings 966,500 A review of the accounting records reveals the following 1. No errors have been made in recording 2020 transactions or in preparing the closing entry for net income Preferred to $50 per on, and Cumulative; 14,000 shares have been outstanding since...
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general Journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1,095,000; credit Common Stock $1,095,000. 0 No entry is made for this transaction O Debit Retained Earnings $365,000 Credit Common Stock $365.000 0 0 Debit Retained...
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