Accounting for cash dividends Java Company earned a net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares). Java then paid the dividends on January 4, 2019. Requirements Journalize for Java the entry declaring the cash dividends on December 15, 2018. Journalize for Java the entry paying the cash dividends on January 4, 2019.

Weinstein's Nordic Italian Cuisine, Inc. The stockholders' equity accounts of Weinstein's Nordic Italian Cuisine, Inc. balances as of December 31, 2023: Required: Prepare the appropriate journal entry for each of the following transactions: a b PCPE d e f g Common stock, $2 par Paid in capital in excess of par Retained earnings h 15-Jan-24 14-Feb-24 9-May-24 20-Jun-24 31-Oct-24 12-Nov-24 20-Nov-24 WNIC declares a 2% stock dividend Shares of WNIC are currently selling on the NYSE at $10. Stock dividend distribution date, FMV of stock = $10.50 WNIC declares a $.25 per share cash dividend Cash dividend payment date WNIC declares a 40% stock dividend 1,680,672 375,000 3,500,000 Shares of WNIC are currently selling on the NYSE at $11. Stock dividend distribution date, FMV of stock = $11.25 WNIC declares a property dividend providing that each holder of 50 shares of common stock will receive a frozen eggplant dinner with a fair value of $8.50/dinner. The dinners are currently carried in in…

Identifying and Analyzing Financial Statement Effects of Cash Dividends On March 15, 2018, Bank of America issued 94,000 shares of 5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF for $2.35 billion. Dividends are payable semiannually on or about March 15 and September 15. a. Assume the stock was issued at face value. What is the face value of each Series FF share? $ 25,000 b. What will be the total dividend for the year ended December 31, 2018, assuming that the number of shares remains unchanged? Enter answer in millions. Round answer to the nearest million. $ 110 × million

Comparative Earnings per Share Lucas Company reports net income of $2,460 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 3,000 shares of stock, resulting in 12,000 shares outstanding at year-end. During 2020, Lucas earned net income of $17,400. It issued 3,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 30,000 shares outstanding at year-end. During 2021, Lucas earned net income of $28,800. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021. If required, round your final answers to two decimal places.

A: Journalize the transactions and the closing entries for net income and dividends

D1. Account

Blabla Grocery Inc., reported the following financial information on December 31, 2019:       Common shares issued and outstanding throughout 2019               700,000 shares         6% nonconvertible cumulative preferred shares capital                 $450,000         Retained Earnings on January 1. 2019                                             $3,500,000          Basic EPS for 2019                                                                           $0.99 per share  In addition, the company did not declare any dividends for either 2018 or 2019. The amount which the company would report as Retained Earnings on December 31, 2019 would be: Select one: a. $673,000. b. $693,000. c. $4,220,000. d. $4,173,000. e. $4,166,000.

For the year ending December 31, 2022, Sheridan Inc. reports net income $147,000 and cash dividends $88,500. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2022, was $223,500. Balance in retained earnings %24

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Subject : Accounting