Sheffield Company has the following stockholders’ equity accounts at December 31, 2020. Common Stock ($100 par value, authorized 8,700 shares)   $502,800 Retained Earnings   277,400 Prepare entries in journal form to record the following transactions, which took place during 2021 (1)   260 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) (2)   A $20 per share cash dividend was declared. (3)   The dividend declared in (2) above was paid. (4)   The treasury shares purchased in (1) above were resold at $103 per share. (5)   480 shares of outstanding stock were purchased at $106 per share. (6)   370 of the shares purchased in (5) above were resold at $96 per share.

4 minutes Gross Company has 300,000 common shares outstanding on 1/1/21. During 2021, Gross undertook the following stock transactions: April 1 issued a 20% stock dividend, October 1 reacquired 10,000 shares for the treasury. Determine the weighted-average number of common shares outstanding for Gross Company. O 357,500. O 350,000. 360,000. 362,500.

A9

Current Attempt in Progress On January 1, 2021, Elkhardt Corporation, a publicly traded company, had the following shareholders' equity accounts: Common shares (unlimited number of shares authorized, 48,400 shares issued) $1,936.000 Retained earnings 1,249,600 Accumulated other comprehensive income 59,840 During the year, the following transactions occurred: Jan. 15 Declared a $1.25 per share cash dividend to shareholders of record on January 31, payable February 15. Declared a 10% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30, and May 15, the share prices were $12, $11.80, and $11.90, respectively. Apг. 16 Oct. Effected a 2-for-1 stock split. On October 1, the share price was $15. Dec. 31 Determined that net income for the year was $552,640. (a) Record the above transactions, including any required entries to close dividends and net income. (List all debit entries before credit entries. Credit account titles are automatically…

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Feb 25 Declared a 2.50 per share cash dividend on 20,000 shares of common stock outstanding Mar. 20 Paid the cash dividends declared on Feb. 25, Dec. 31 Closed the 72,000 credit balance in Income Summary that reflects net income to Retained Earnings (a) Prepare the journal entries for these transactions. (b) If Retained Earnings had a 155,000 credit balance on January 1, calculate its year-end balance as of December 31

Journal entry worksheet 1 Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2021, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2022 to the stockholders of record on January 15, 2022. The ...market price of the company's stock is $10 per share on December 31 2021 Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31 Retained earnings Common stock dividend distributable Paid in capital in excess of par value Clear entry View general journal Record entry Assessme

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Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2019. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,500 shares of its own stock at $20 cash per share. January 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 1,688 of its treasury shares at $24 cash per share. August 22 Sold 2,812 of its treasury shares at $17 cash per share. September 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the…

Exercise 14-03 a-b (Video) On January 1, 2020, Oriole Corporation had $1,160,000 of common stock outstanding that was issued at par. It also had retained earnings of $747,500. The company issued 37,500 shares of common stock at par on July 1 and earned net income Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is re Entry" for the account titles and enter 0 for the amounts.) b. No. Account Titles and Explanation a. Par value is $10, and market price is $18. Par value is $5, and market price is $22. b. Debit LINK TO TEXT Credit Click if you would like to Show Work for this question: Open Show Work VIDEO: SIMILAR EXERCISE