Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 600,000 shares of $100 par value 6% preferred stock. It is also authorized to issue 800,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares and none of the preferred shares. In its sixth year, the corporation has the following transactions: Mar. 1 Declares a cash dividend of $2 per share. Mar. 30 Pays the cash dividend. Jul. 10 Declares a 5% stock dividend when the stock trading at $15 per share. Aug. 5 Issues the stock dividend. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 Mar. 30 Jul. 10 Aug. 5

At the start of 20X5, Happy Corp. had 20,000 shares of $5 par common stock issued and outstanding. All 20,000 shares had been issued in the prior year for $20 per share. On February 1, 20X5, Happy repurchased 6,000 shares of its own stock for $12 per share. It plans to reissue these shares at a future time. Question: What journal entry should Happy make to record the February 1, 20X5 transaction? Answer: It should debit for $ and credit + for $

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At June 30th, Tidal Co. has 22,000 shares of common stock authorized, 17,000 issued, and 16,500 shares outstanding. On that date, Tidal's board of directors declared a cash dividend of $1.10 per share of common stock. What is the total amount of the cash dividend Tidal will pay to its common shareholders?

EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 1,500 shares of its own common stock at $17 per share. Apr. 10 Reissued 750 shares of its common stock held in the treasury for $21 per share. Jun. 12 Reissued 750 shares of common stock at $15 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

Coronado Corporation began its latest fiscal year on January 1, 2021, with 520,000 common shares outstanding. During the year, the following events occurred: On February 1, Coronado sold 15,400 additional common shares. The company declared and issued a 25% stock dividend on March 1. On June 1, Coronado repurchased and cancelled 3,850 common shares. ● ● ● . . An additional 4,700 common shares were issued on July 1. On September 1, Coronado declared and issued a three-for-one stock split. On December 1, Coronado issued an additional 14,400 shares. Following the fiscal year, Coronado declared and issued a two-for-one stock split on February 1, 2022. The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Coronado should use for calculating its EPS numbers for 2021. Weighted average number of common shares:

When Ale Co. started operating in Year 1, it issued 750,000 shares of common stock. In Year 2, the company issued 50,000 more shares of common stock and 100,000 shares of preferred stock (with each preferred share convertible into one common share). In Year 3, 40 percent of the preferred shares were converted into common shares. At the end of Year 3, the company underwent a 4-for-1 stock split. Determine the total number of outstanding common stock shares at the end of Year 3.

Warhol Company has 2,000 shares of $0.50 par value common shares authorized. On March 1, Warhol sold 1,550 shares for $10 per share. On May 1 of the same year, Warhol reacquired 550 of those shares for $11 each. Over the next several months, the market price of the shares increased and Warhol Company reissued 150 shares at $15 per shares. By December 1, the company reissued the remaining 400 shares. At that time, the market price of the shares had fallen to $9 per share. What is the entry the company would make on December 1st to record the reissue of 400 shares of treasury stock?     Responses Cash                                                                         3,600 Capital in Excess of Cost - Treasury Stock           400 Retained Earnings                                                     400              Treasury Stock                                                                4,400   Cash…

Orlando Corporation incorporated on January 2 of the current year. During the year, Orlando had the following transactions: • Issued 20,000 shares of common stock at $25 per share. The par value per share is $1. • Purchased 1,000 shares of treasury stock at $27 per share. • No dividends were declared during the year. • The net income of $400,000. What is the total amount of stockholders' equity as of December 31 of the current year? A. $500,000 B. $900,000 C. $527,000 O D. $873,000

EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 1,500 shares of its own common stock at $12 per share. Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share. Jun. 12 Reissued 750 shares of common stock at $10 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6 Apr. 10   fill in the blank 8 fill in the blank 9     fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15 Jun. 12   fill in the blank 17 fill in the blank 18     fill in the blank 20 fill in the blank 21     fill in the…