The shareholders' equity of Core Technologies Company on June 30, 2023, included the following: Common stock, $1 par; authorized, 5 million shares; issued and outstanding, 1 million shares Paid-in capital-excess of par Retained earnings $ 1,000,000 4,000,000 8,000,000 On April 1, 2024, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $20 on April 1, 2024, and $30 on June 1, 2024. Required: Prepare the journal entries to record the declaration and distribution of the stock dividend. Note: If no entry is required for a transaction/event select "No journal entry required" in the first account field
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- Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…Problem 1. The stockholders' equity section of Kookie Co. revealed the following information on December 31, 2022. Preference stock, P50 par Share premium – preference Ordinary stock, P15 par Share premium – ordinary Subscribed ordinary stock Retained earnings 2,300,000 805,000 5,250,000 2,750,000 150,000 1,900,000 400,000 Subscriptions receivable – ordinary (collectible next month) Required: Answer the following questions with supporting computations: 1. How much is the legal capital? 2. How much is the total paid in capital? 3. What is the amount of the stockholders' equity on 12/31/2022? 4. How many preference shares were issued? 5. How many ordinary shares were subscribed?Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.
- 6) Exercise 18-23 (Static) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capital—excess of par, preferred 1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required:1. Prepare the appropriate entries for these events: On March 3, the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). The investment…Problem 18-5 (Algo) Shareholders' equity transactions; statement of shareholders' equity; financial statement effects [LO18-6, 18-7, 18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: Common stock, 112 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $ 112,000 672,000 910,000 a. November 1, 2024, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.8 million, but were purchased two years previously for $2.4 million. Because they were intended to be held to maturity, the bonds had not been…6) Day 5 Exercise 18-23 (Static) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capital—excess of par, preferred 1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required:1. Prepare the appropriate entries for these events: On March 3, the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). The…
- Exercise 18-23 (Algo) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Incorporated, included the following shareholders' equity accounts at December 31, 2023: Paid-in capital: Preferred stock, 8.0%, 83,000 shares at $1 par Common stock, 333,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 3,300 common shares Total shareholders' equity During 2024, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events: $ 83,000 333,300 1,455,000 2,505,000 8,345,000 (36,300) $ 12,685,000 a. On March 3, the board of directors declared a property dividend of 215,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $632,000). The investment shares had a fair value of $3 per share and were…27. The shareholders' equity section of Ball Company's comparative balance sheets for the years ended December 31, 2021 and 2020, reported the following data: Common stock, $1 par per share Paid-in capital-excess of par Retained earnings ($ in millions) 2021 A. $28 million B. $718 million C. $130 million D. $118 million $ 61 छत लॅक बैंक 2 34 8 62 2020 $ 60 30 60 0 During 2021, Ball declared and paid cash dividends of $90 million. The company also declared and issued a small stock dividend. No other changes occurred in shares outstanding during 2021. What was Ball's net income for 2021?Exercise 10-19 (Algo) Calculate and analyze ratios (LO10-8) [The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data: ($ in millions) Net income Exercise 10-19 (Algo) Part 1 Dividends on preferred stock Average shares outstanding Stock price Required: 1-a. Calculate earnings per share in 2023 and 2024. 1-b. Did earnings per share increase in 2024? 2023 Req la 2024 Complete this question by entering your answers in the tabs below. Req 1b Numerator/Denominator 2024 Calculate earnings per share in 2023 and 2024. (Enter your answers in millions (i.e. 5,500,000 should be entered as 5.5).) Earnings Per Share $279 $24 450 $10.67
- Exercise 18-10 (Algo) Retirement of shares [LO18-5] Borner Communications' articles of incorporation authorized the issuance of 125 million common shares. The transactions described below effected changes in Borner's outstanding shares. Prior to the transactions, Borner's shareholders' equity included the following: Shareholders' Equity Common stock, 110 million shares at $1 par Paid-in capital - excess of par Retained earnings ($ in millions) $ 110 330 220 Required: Assuming that Borner Communications retires shares it reacquires (restores their status to that of authorized but unissued shares), record the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 1. On January 7, 2024, Borner reacquired 4 million shares at $6.00 per share. 2. On August 23, 2024, Borner reacquired 6…Book value of common stockholders' equity of FedEx, May 31, 2020 (figures in $ millions) Common shares ($0.10 par value per share) Additional paid-in capital $31 3,098 23,723 (7,771) (370) $18,711 Retained earnings Treasury shares at cost Other Net common equity Note: Authorized shares (millions) Issued shares, of which: Outstanding shares Treasury shares Required: a. Suppose that FedEx now issues 5 million shares at $150 a share. Update the table below with the new values. b. What would happen to the book value of common stockholders' equity if instead FedEx bought back 5 million shares at $150 per share? Complete this question by entering your answers in the tabs below. Required A Required B What would happen to the book value of common stockholders' equity if instead FedEx bought back 5 million shares at $150 per share? Note: Negative amounts should be indicated by a minus sign. Enter your answers in millions rounded to 1 decimal place. Common shares ($0.10 par value per share)…Print by: Tanvi Varma374275:374275: Intermediate Accounting Theory and Practice MGMT X 120B (Summer 2020) / Ch. 15 HW *Exercise 15-18 Nash Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Nash took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Nash uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4.…