On april 12, hobson corporation declared a quarterlu dividend of 0.05 per share on its 200,000 common shares. The dividend will be paid on april 29 to the sharehders of record on april 19. Prrpare the journal entry necessary for each date
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- Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 12,000 shares but 2,000 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend?Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?On July 31, a company declared a cash dividend of SR0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July 31, August 15 and August 25?
- On November 27, the board of directors of Armstrong Company declared a $.50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Armstrong has 25,500 shares of $1 par common stock outstanding at November 27.Journalize the entries needed on the declaration and payment dates.Billingsley United declared a $0.20 a share dividend on Thursday, October 16. The dividend will be paid on Monday, November 10 to shareholders of record on Friday, October 31. What is the ex-dividend date?On March 1, the company issued 50,000 preferred shares with a 5% cumulative dividend for $10 per share. The preferred shares are redeemable, but not retractable. In addition, the preferred shares can be converted into common shares at any time, at a ratio of 1-to-1. Prepare the journal entries and discusses the recognition, measurement, and presentation of the financial instruments issued.
- On Friday, March 4, Kufours announced it would pay a dividend of $.63 per share on Friday, April 1. The ex-dividend date is Wednesday, March 23. What is the date of record?Concordia Corporation has 96,900 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10. b) Provide the required journal entries on the appropriate dates to record the stock dividend. Only provide account names as the dollar amount has already been calculated in part a). (If no entry is required, select "No Entry" for the account titles.) December 1 Dividends Declared Dividends Payable Stock Dividends Distributable Common Shares Preferred Shares Retained Earnings Cash No EntryOn Thursday, May 18, the board of directors of ABC declares a 30-cent-per-share dividend to shareholders of record as of Tuesday, June 13. The dividend will be paid on Wednesday, June 28. a. What is the declaration date? b. What is the date of record? c. What is the ex-dividend date? d. What is the payment date?
- On June 13, the board of directors of Siewert Incorporated declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).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.On October 10, the board of directors of Skysong Corporation declared a 10% stock dividend. On October 10, the company had 12,200 shares of $1 par common stock issued and outstanding with a market price of $15 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit