A company's board of directors votes to declare a cash dividend of $1.55 per share of common stock. The company has 31,000 shares authorized, 26,000 issued, and 25,500 shares outstanding. The total amount of the cash dividend is: $47,050. $48,050. $39,525. $40,300. $79,825 3b.   On September 1, Ziegler Corporation had 71,000 shares of $5 par value common stock, and $213,000 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   No entry is made for this transaction. Debit Retained Earnings $355,000; credit Stock Split Payable $355,000. Debit Retained Earnings $1,065,000; credit Common Stock $1,065,000. Debit Retained Earnings $1,065,000; credit Common Stock Split Distributable $1,065,000. Debit Retained Earnings $355,000; credit Common Stock $355,000.

he charter of a corporation provides for the issuance of 99,542 shares of common stock. Assume that 39,624 shares were originally issued and 3,225 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a.$3,225 b.$99,542 c.$39,624 d.$72,798

Problem 2. On January 1 Weiss Corporation had 75,000 shares of $0.5 par value common stock issued and outstanding. During the year, the following transactions occurred. Apr. 1 Issued 8,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. July 10 Dec. 1 Issued 4,000 additional shares of common stock for $12 per share. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Instructions (a) Prepare the entries for the above transactions. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?

5. Magenta Corporation declared $0.70 per share cash dividends on September 18. The dividends were recorded and paid on September 23 and September 29, respectively. Magenta Corporation had 50,000 shares outstanding with par value of $1. The journal entry to record the transaction on September 29 is … a. Cash Dividends $35,000 Dividends Payable $35,000 b. No journal entry required on this date c. Retained Earnings $50,000 Cash Dividends $50,000 d. Dividends Payable $35,000 Cash $35,000