On January 1, Flint Corporation had 62,900 shares of no-par common stock issued and outstanding. The stock has a stated value of per share. During the year, the following transactions occurred. Apr. 1 Issued 18,000 additional shares of common stock for $13 per share. June 15 July 10 Dec. 1 Dec. 15 (a) Declared a cash dividend of $1.95 per share to stockholders of record on June 30. Paid the $1.95 cash dividend. Issued 8,000 additional shares of common stock for $13 per share. Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.

On January 1, Pharoah Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 23,000 additional shares of common stock for $17 per share. June 15 July 10 Dec. (a) 1 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $2.90 per share to stockholders of record on December 31. Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit

The stockholders’ equity accounts of Rayburn Corporation as of January 1 appear below: Common stock, $7 par value, 400,000 shares authorized;   180,000 shares issued and outstanding $1,260,000 Paid-in capital in excess of par value 920,000 Retained earnings 513,000   During the year, the following transactions occurred: June 7 Declared a 10 percent stock dividend; market value of the common stock was $13 per share. June 28 Issued the stock dividend declared on June 7. Dec. 5 Declared a cash dividend of $1.45 per share. Dec. 26 Paid the cash dividend declared on December 5.   Required a. Prepare journal entries to record the foregoing transactions. General Journal Date Description Debit Credit Jun.07 Answer Answer Answer   Stock Dividends Distributable Answer Answer   Answer Answer Answer   Declared stock dividend.     Jun.28 Answer Answer Answer   Common Stock Answer Answer   Issued common shares as stock dividend.     Dec.05 Answer…

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On January 1, Sheffield Corporation had 145000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a O credit to Common Stock Dividends Distributable for $326250. O credit to Cash for $326250. O credit to Common Stock Dividends Distributable for $108750. O debit to Stock Dividends for $326250.

The following accounts and their balances appear in the ledger of Young Properties Inc. on November 30 of the current year: Common Stock, $15 par $168,000 Paid-In Capital in Excess of Par 13,440 Paid-In Capital from Sale of Treasury Stock 7,300 Retained Earnings 277,000 Treasury Stock 10, 450 Prepare the Stockholders' Equity section of the balance sheet as of November 30. Fifty thousand shares of common stock are authorized, and 550 shares have been reacquired.

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