Bogscraft Company has outstanding 65,500 shares of $10 par value common stock and 26,100 shares of $20 par value preferred stock (8 percent). On February 1, the board of directors voted in favor of an 8 percent cash dividend on the preferred stock. The cash dividends were paid on March 15. The company closed its books at its fiscal year-end, June 30. Required: Prepare journal entries to record the events on (a) February 1, (b) March 15, and (c) June 30. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.

Q: occurred during 20x3: a. Issued 180,000 shares to key employees as compensation for their past…

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Q: On July 1, a board of directors declared a $3 per share cash dividend, payable on July 31 to all…

A: Date Accounts Debit Credit July 1 Dividends (1,000-200) * $3 2,400       Dividends Payable…

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A: Formula: Cash received = Number of shares issued x Issue price per share

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A: 1. Stock Dividend: In this Dividend company issue additional shares to the existing shareholders…

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Q: During its first year of operations, Johnson Corporation had the following transactions pertaining…

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Q: Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value,…

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Q: On March 1, the company issued 50,000 preferred shares with a 5% cumulative dividend for $10 per…

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A: Journal entry for issue of shares:

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A: The Numerical has covered the concept of Journal entry relating to the stock purchase and sell.

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A: 1.

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Q: Journalize the transactions of February14, March 5, and June 2.

A:

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.