Homework Answers
| 500,000*15%= | 75000 | |||||
| Date | General Journal | Debit | Credit | |||
| 1-Oct | Stock dividend | (75000*25) | 1875000 | |||
| stock dividend distributable | 750000 | |||||
| paid in capital in excess of par | 1125000 | |||||
| 20-Nov | Stock dividend distributable | 750,000 | ||||
| Common stock | 750,000 | |||||
| 2) | Large dividend | |||||
| 500,000*50%= | 250000 | |||||
| Date | General Journal | Debit | Credit | |||
| 1-Oct | Stock dividend | (250,000*10) | 2500000 | |||
| stock dividend distributable | 2500000 | |||||
| 20-Nov | Stock dividend distributable | 2,500,000 | ||||
| Common stock | 2,500,000 | |||||
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mare - Operations, Dividends, Book Value pur Share, and Earnings per Share Exercise 9-5...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1,...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1, 2010. On this date, the Board of directors declared a share capital dividend distributable on November 20, 2010 to shareholders of record of October 30. The Market price of each ordinary share is P25 on October 1; P23 on October 30 and P30 on November 20. Instructions: Prepare the entries to record the declaration and distribution of stock dividends under each of the following...
need answer asap ABC Corp. reports the following balances as of January 1, 2010: Ordinary share...
need answer asap
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be...
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par,...
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be distributed for every...
kindly provide explanations Instructions: Record the declaration Record the declaration and distribution of the above dividends....
kindly provide explanations
Instructions: Record the declaration Record the declaration and distribution of the above dividends. Exercise 9-7 Allocation of Cash Dividends to Preference and Ordinary Shareholders) The STU Co. has paid dividends for the last three years as follows: 2012 - P2,500,000; 2013 - P3,500,000; 2014 - P6,500,000. During the last three years, the company has the following outstanding share capital: 100.000 shares of P100 par, 12% Preference Share Capital and 500,000 shares of P10 par Ordinary Share Capital....
Provide explanations. Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts...
Provide explanations.
Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts of Leviticus Company are as follows: Ordinary Share Capital, P25 par, 20,000 shares Ordinary Share Premium P500,000 100,000 Required: 1. Prepare the necessary journal entry to record each of the following independent transactions: a. The company undertakes a 5-for-1 share split. b. The company undertakes a 1-for-4 share split. 2. State the number of capital shares issued and outstanding for each independent transaction.
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 53,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 530,000 525,000 675,000 $1,730,000 On February 5, the directors declare a 16% stock dividend distributable...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.) The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 54,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 540,000 525,000 675,000 $1,740,000 On February 5, the directors declare a 14% stock dividend distributable...
- 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...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of...
Stock Dividends Witt Corporation has 80,000 shares of $5 par value common stock outstanding. At year-end, the company d...
Stock Dividends Witt Corporation has 80,000 shares of $5 par value common stock outstanding. At year-end, the company declares a five percent stock dividend. The market price of the stock on the declaration date is $20 per share. Four weeks later, the company issues the shares of stock to stockholders. a. Prepare the journal entry for the declaration of the stock dividend. b. Prepare the journal entry for the issuance of the stock dividend. C. Assume that the company declared...
need answer asap
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be...
kindly provide explanations
Instructions: Record the declaration Record the declaration and distribution of the above dividends. Exercise 9-7 Allocation of Cash Dividends to Preference and Ordinary Shareholders) The STU Co. has paid dividends for the last three years as follows: 2012 - P2,500,000; 2013 - P3,500,000; 2014 - P6,500,000. During the last three years, the company has the following outstanding share capital: 100.000 shares of P100 par, 12% Preference Share Capital and 500,000 shares of P10 par Ordinary Share Capital....
Provide explanations.
Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts of Leviticus Company are as follows: Ordinary Share Capital, P25 par, 20,000 shares Ordinary Share Premium P500,000 100,000 Required: 1. Prepare the necessary journal entry to record each of the following independent transactions: a. The company undertakes a 5-for-1 share split. b. The company undertakes a 1-for-4 share split. 2. State the number of capital shares issued and outstanding for each independent transaction.
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 53,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 530,000 525,000 675,000 $1,730,000 On February 5, the directors declare a 16% stock dividend distributable...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.) The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 54,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 540,000 525,000 675,000 $1,740,000 On February 5, the directors declare a 14% stock dividend distributable...
- 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...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of...
Stock Dividends Witt Corporation has 80,000 shares of $5 par value common stock outstanding. At year-end, the company declares a five percent stock dividend. The market price of the stock on the declaration date is $20 per share. Four weeks later, the company issues the shares of stock to stockholders. a. Prepare the journal entry for the declaration of the stock dividend. b. Prepare the journal entry for the issuance of the stock dividend. C. Assume that the company declared...
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