On January 1, 2022, Splish Brothers Inc. had $1,320,000 of common stock outstanding that was issued at par and retained earnings of $744,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2022, for the following two independent assumptions. (a)   Par value is $10 and market price is $15. (b)   Par value is $5 and market price is $8.

Q: On January 1, 2025, Grouper Corp. had $1,330,000 of common stock outstanding that was issued at par…

A: A Stock Dividend is a corporate action where a company declares a certain dividend percentage on the…

Q: On December 31, 2023, M. E. Carter Company had 300,000 shares of common stock issued and…

A: Earning per share indicates the per share earning of common stock. Earnings per share are two type…

Q: Crane Inc. had 37,400 common shares on January 1, 2024. On May 1, 2,880 common shares were…

A: 1. EPS:Earnings per share (EPS) is calculated as a company's profit divided by the outstanding…

Q: During the fiscal year ended September 30, 2023, Worrell Incorporated had a 4-for-1 stock split and…

A: Earnings per share is the portion of a company's profits that is distributed to shareholders and…

Q: On October 31, 2020, ABC Company declared a dividend of $ 2.00 per share to be paid on November 15,…

A: Liquidating dividend is the dividend which is paid in excess of the company's accumulated…

Q: After Corporation had net income for 2025 of $60,000. After Corporation had 19,000 shares of common…

A: Step 1: given that, Net income = $60,000 Preferred dividends (dividend payments)= $6,000 Weighted…

Q: On December 31, 2023, the Bennett Company had 110,000 shares of common stock issued and outstanding.…

A: Earnings per share :— It is calculated by dividing net income available to equity shareholders by…

Q: Cullumber Inc. had net income for 2023 of $6,285,000. The company had 2,300,000 of common shares…

A:

Q: Sandhill, Inc. reports net income of $737800. It declares and pays dividends of $85000 for the year,…

A: Earnings Per Share (EPS) is a financial metric that indicates the portion of a company's profit…

Q: Hardaway Fixtures' balance sheet at December 31, 2023, Included the following:

A: EPS is comparable across businesses and industries and offers insight into a company's…

Q: Metlock Corporation issued 108,000 shares of $18 par value, cumulative, 9% preferred stock on…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Frenchroast Company earned net income of $93,000 during the year ended December 31, 2020. On…

A: The objective of the question is to calculate the total dividends paid by Frenchroast Company during…

Q: On January 1, 2022, Splish Brothers Inc. had $1,320,000 of common stock outstanding that was issued…

A: A stock dividend is a distribution of additional shares to existing shareholders by a company, often…

Q: Kiwi Charter Corp. reported $2,952,010 of profit for 2023. On November 2, 2023, it declared and paid…

A: Earnings per share (EPS) is a financial ratio used to evaluate the profitability of a company on a…

Q: The San Diego Corporation reported profit of year ended December 31, 2018. At the beginning of the…

A: Solution: Weighted average number of ordinary shares = beginning shares + shares issued*6/12 -…

Q: On December 31, 2017, Beta Company had 270,000 shares of common stock issued and outstanding. Beta…

A: Earnings per share is one of important measure or metric being used in business. It shows how much…

Q: On January 1, 2020, Metlock Corporation had $2,120,000 of $10 par value common stock outstanding…

A: Balance Sheet -Both the total assets of the business and their financing method—debt or equity—are…

Q: oOn January 1, 2020, Kingbird Corporation had $2,020,000 of $10 par value common stock outstanding…

A: A log book is used to record a business transaction in an organization's accounting records. A…

Q: Mocha Company earned net income of $110,000 during the year ended December 31, 2018. On December 15,…

A: The dividend is declared to the shareholders from the business's retained earnings. The net income…

Q: On January 1, 2022, Swifty Corporation had $1,480,000 of common stock outstanding that was issued at…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: Knotworth Gedding Consulting Company had 430,000 shares of common stock outstanding on December 31,…

A: Earning per share tells net earnings available to common shareholders.It is calculated by dividing…

Q: Jameson Company earned net income of $75,000 during the year ended December 31, 2018. On December…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: Skysong Service Corporation's December 31, 2025 balance sheet reported the following: 3% preferred…

A: Common shares are the ordinary equity shares issued by the company at a price known as the issue…

Q: On april 12, hobson corporation declared a quarterlu dividend of 0.05 per share on its 200,000…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: Coronado, Inc. has 1080 shares of 7%, $10 par value, cumulative preferred stock and 49600 shares of…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: On December 31, 2020, Oriole, Inc. has 4100 shares of 4% $100 par value cumulative preferred stock…

A: Dividend is the amount of profit being distributed to shareholders. It can be cash dividend,…

Q: On January 1, 2020, Kingbird Corporation had $2,020,000 of $10 par value common stock outstanding…

A: A journal entry is a record of a firm's business activity that is retained in the company's…

Q: Ivanhoe Limited had 41,400 common shares outstanding on January 1, 2020. On March 1, 2020, Ivanhoe…

A: The company issues common shares to issue shares to investors and business owners. The number of…

Q: Below is United Delivery Service’s (UDS) stockholders' equity for the year ended 2022:

A: Common stockholders are the owners of the company. Comon stock issued at…

Q: For the year ended December 31, 2024, Norstar Industries reported net income of $990,000. At January…

A: Earning per share tells net earnings available to common shareholders.It is calculated by dividing…

Q: Wendell Company provided the following pertaining to its accounting year that ended December 31,…

A: The stock dividend decrease retained earnings, and increases issued capital and there is no effect…

Q: On January 1, 2022, Skysong, Inc. had $1,190,000 of common stock outstanding that was issued at par…

A: Stock dividend is the issue of dividend in the form of shares. In this type of dividend, the entity…

Q: At January 1, 2020, Teal Company’s outstanding shares included the following. 276,000 shares of…

A: Notes: 1) Net income available for common shareholders = Net Income - Preferred Share Dividend =…

Q: At December 31, 2021 and 2020, P Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100…

A: Basic EPS = Net income (-) preferred dividend / common shares Preferred dividend = 5000 shares *…

Q: At January 1, 2020, Wildhorse Company's outstanding shares included the following. 300,000 shares of…

A: Earnings Per Share: A financial ratio called earnings per share (EPS) shows how much net income a…

Q: Spring Inc. reports the following information: Net income:  $750,000 Dividends on common shares:…

A: 7) Earning per share = (Net income - Preferred dividend)/Average number of common shares outstanding…

Q: The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given…

A: The treasury stock decreases the number of shares issued and outstanding. The retained earnings…

Q: On January 1, 2020, Kingbird Corporation had $2,090,000 of $10 par value common stock outstanding…

A: July 1: Issuance of StockStep 1: Calculate total cash received220,000 shares x $12/share =…

Q: b. What is the weighted-average number of common shares for the year? Weighted-average outstanding…

A: The EPS is the method employed by the investor prior to making an investment choice. Because…

Q: Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and…

A: Answer:- The income attributable to each outstanding common share during the period is known as…

Q: On January 1, 2020, Windsor Corporation had $2,000,000 of $10 par value common stock outstanding…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share…

A: Dividend is the return which is paid to the shareholders for investing in the business entity and…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.