Beacon Corporation issued a 4 percent stock dividend on 37,500 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was $21 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model.
Q: On December 31, the stockholders' equity section of the balance sheet of Monk Associates reflected…
A: Source of raising funds includes: Issue of common stock Issue of debts securities i.e. Bonds,…
Q: The following information is taken from the balance sheetand related disclosures of Maxwell,…
A: a) If the preference dividends are cumulative in nature, then these are the liability and if non…
Q: Before preparing financial statements for the current year, the chief accountant for Pharoah Ltd.…
A: Solution:- Preparation of the journal entries as follows under:- Note:- Error in accounting entry…
Q: Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15%…
A: Stock Dividend - Stock Dividend is the dividend issued by the company in the form of shares. This is…
Q: Beacon Corporation issued a 3 percent stock dividend on 37,000 shares of its $7 par common stock. At…
A: A stock dividend is the unrestricted distribution of a company's common stock to its shareholders. A…
Q: Raphael Corporation’s balance sheet shows the following stockholders’ equity section.…
A: Book Value of common stock=Common stock+Retained earnings=$160,000+$310,000=$470,000
Q: The balance sheet caption for common stock is: Common stock, $10 par value, 7,000,000 shares…
A: We have the following information: Common Stock par value: $10 Shares Authorized: 7,000,000 Shares…
Q: The market price of a share of common stock at the time of issuance was $19.50, while the market…
A: The stockholders' equity section is represented on the balance sheet of the business. It records the…
Q: Before preparing financial statements for the current year, the chief accountant for Crane Ltd.…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Record each of the following transactions for the Toyota Corporation in general journal form.…
A: Preferred stocks are those stocks for which dividend is paid before other stocks. The preferred…
Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…
A: Given the following information: Common stock, $10 par value (no change during the year):…
Q: Raedy Corporation reported the following equity section on its current balance sheet. The common…
A: Stock-spilt means an issue of new shares to the existing shareholders of the company. A 2 for 1…
Q: DY Corporation declared the regular quarterly dividend of P2 per share. It had issued12,000 shares…
A: Shares outstanding = Shares issued - Treasury stock shares Shares outstanding = 12,000 - 2,000…
Q: The stockholders' equity section of the balance sheet for Pawnee Corporation appeared as follows…
A: Company means a form of business where the share holder invest money in business in form of shares…
Q: What is the entry for the dividend declaration
A: Dividend declaration: Company distribute a part of their income to its shareholder as the return on…
Q: Huxley Company has 239699 shares of common stock authorized, 190997 issued, and 57975 shares of…
A: Dividend paid = No. of shares issued and outstanding x Dividend per share where, No. of shares…
Q: Quickbux Co. issued and sold 1,000 shares of common stock, with a par value of $5, for $12 per…
A: Shareholders' equity includes common stock, preferred stock, paid-in capital in excess of par, and…
Q: Morrison Corporation had the following common stock record during the current calendar year:…
A: When the profit has to be divided by the number of shares, it is called earnings per share. In this…
Q: Beacon Corporation issueda 4 percent stock dividend on 37,000 shares of its $8 par common stock. At…
A: Stock dividend is the dividend given to the shareholders' in the form of shares.
Q: A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording it…
A: Authorized shares are the maximum number of shares a company is allowed to issue to shareholders as…
Q: The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par…
A: Dividend is the disbursement of profit in consideration to the shares purchased by the shareholders.
Q: Goggle Corporation issued 5,000 stocks of its $1 par value common stocks as a stock dividend when…
A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…
Q: Tamara Corporation has 5,000 shares of $10 par value common stock outstanding and retained earnings…
A: Event Account Titles and Explanation Debit Credit a Retained earnings $ 10,000 To…
Q: Pharoah has 21,200, $4 noncumulative preferred shares issued. It paid the preferred shareholders the…
A: Error in accounting entry can be corrected by either reversing entry which is incorrect and entering…
Q: Before preparing financial statements for the current year, the chief accountant for Crane Ltd.…
A: when transaction is recorded wrongly in account, it needs to be corrected when it is found. 1.…
Q: The following balances are taken from Henri Corporation's balance sheet as of 12317Tea 2e…
A: Stockholders equity comprise of issued capital and accumulated profits.
Q: Bower Corporation reported the following information: common stock, $1 par; 100,000 shares…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: Calgate Company had the following shares outstanding and retained earnings at the end of the current…
A: Cumulative Preference Share: When a corporation goes into liquidation, cumulative preference shares…
Q: Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock…
A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…
Q: Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock…
A: Dividend: The dividend is the amount paid for the investment made by the stockholders from the…
Q: To expand operations, Aragon Consulting issued 1,200 shares of previously unissued common stock with…
A: When the stock is issued higher than the par value of stock by the company, the excess amount is…
Q: The following information is available for Metloc Rock Corporation: Common Stock ($5 par)…
A: The stock dividend is a method of capitalizing the retained earning. Generally the large stock…
Q: On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million,…
A:
Q: The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows:…
A: a. Two items are appearing in the Equity section of the balance Sheet- Preferred stock and paid in…
Q: Emma Systems, Inc. declared and issued a 9 percent stock dividend. The company has 720,000 shares…
A: Solution: Amount of stock dividend = Outstanding shares * 9%* Market value per shar = 45668*9%*$6 =…
Q: A company with 118,808 authorized shares of $5 par common stock issued 31,951 shares at $16 per…
A: Authorized Shares = 118808 Shares Face Value = $5
Q: The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070, 000…
A: Given, Shares issued = 1,310,000 shares Shares outstanding = 1,050,000 shares Par value = $2 par…
Q: Assume that a company has the following information: Common Stock Information: # of shares issued…
A: Stock dividend is one of type used by business entities to get rewarded their shareholders under…
Q: Calculate the dividends for the following: The board of directors declared preferred dividends and…
A: Given the following information: Dividends declared to preferred stock shareholders and common…
Q: The following information is available for Metlock Hill Corporation: Beginning common stockholders'…
A: Common Stockholder- A common shareholder is an person, company, or organization that holds ordinary…
Q: The following data has been collected about Keller Company's stockholders' equity accounts:…
A: Formula:
Q: The following information was taken from the financial statements of Zeil Inc. for December 31 of…
A:
Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…
A: Dividend refers to portion of earnings of an entity that is shared with common stockholders and paid…
Q: Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000…
A: Retained Earnings: Retained earnings is the amount retained by the company after their net…
Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…
A: Workings: Calcualtions Result Preferred divdiend: (3,000,000 / $100) × $5 $150,000…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Includes both state and federal taxes. Refer to the information for Santiago Systems above. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.Beacon Corporation issued a 5 percent stock dividend on 39,500 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $27 per share. Required: a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend
- Calculating the Average Common Stockholders’ Equity andthe Return on Stockholders’ EquityRefer to the information for Somerville Company on the previous pages.Required:Note: Round answers to four decimal places.1. Calculate the average common stockholders’ equity.2. Calculate the return on stockholders’ equityBeacon Corporation issued a 3 percent stock dividend on 37,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required >Beacon Corporation issueda 4 percent stock dividend on 37,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was S28 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required B > Prev 18 of 20 Next >
- Beacon Corporation issued a 8 percent stock dividend on 35,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $30 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.)…Many types of transactions may affect stockholders' equity. Identify the effects of the following transactions on total stockholders' equity. Each transaction is independent. LOADING... (Click the icon to view the transactions.) (Complete all input boxes. For transactions with no effect, make sure to enter "0" in the amount column.) Effect on Total Stockholders' Equity Amount a. A 10% stock dividend. Before the dividend, 580,000 shares of $1 par value common stock were outstanding; market value was $4 per share at the time of the dividend. b. A 2-for-1 stock split. Prior to the split, 61,000 shares of $3 par value common stock were outstanding. c. Purchase of 1,300 shares of $0.50 par treasury stock at $6 per share. d. Sale of 600 shares of $0.50 par treasury stock for $7 per share. Cost of the treasury stock was $6 per share. a. A 10% stock dividend. Before the…Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet using Method 1 ofExhibit 8. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. One hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $2 par$ 150,000Paid-In Capital from Sale of Treasury Stock60,000Paid-In Capital in Excess of Par—Common Stock2,250,000Retained Earnings10,880,000Treasury Stock140,000.
- On January 1, 2022, Sheffield Corp. had the following stockholders' equity accounts. Common Stock ($12 par value, 81,300 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Jan. 15 Feb. 15 Apr. 15 May 15 July 1 Dec. 1 Dec. 31 $975,600 188,000 503,000 Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15. Paid the dividend declared in January. Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. Issued the shares for the stock dividend. Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $6.) Declared a $0.70 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Determined that net income for the year was $220,000.Newly formed S&J Iron Corporation has 53,000 shares of $3 par common stock authorized. On March 1, Year 1, S&J Iron issued 12,000 shares of the stock for $10 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount S&J Iron would report for paid-in capital in excess of par. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? Complete this question by entering your answers in the tabs below. Req A…Requirement 1. Record the transactions in Halborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)\\nJan. 16: Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.40 per share dividend on the 80,000 shares of $8 par value common stock outstanding. The date of record is January 31, and the payment date is February 15.