The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20%stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend).Common stock-$5 par value, 415,000 sharesauthorized, 220,000 shares issued and outstandingPaid-in capital in excess of par value, common stock.Retained earningsTotal stockholders' equityPrepare the stockholders' equity section immediately after the stock dividend is distributed.Total paid-in capitalTotal stockholders' equityJUN COMPANYStockholders' EquityApril 2 (after stock dividend)$0$ 1,100,000530,000853,000$ 2,483,00004

When a company's debts have been paid off, the money or assets that are left over are called…

Answered: The stockholders' equity section of Jun…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 190,000 shares authorized, 49,000 shares issued and outstanding $ 490,000 Common stock, $15 stated value, 240,000 shares authorized, 49,000 shares issued and ?? shares outstanding 735,000 Paid-in capital in excess of par—Preferred 39,000 Paid-in capital in excess of stated value—Common 147,000 Total paid-in capital $ 1,411,000 Retained earnings 340,000 Treasury stock, 8,000 shares (30,000 ) Total stockholders’ equity $ 1,721,000 Note: The market value per share of the common stock is $30, and the market value per share of the preferred stock is $21. Required What is the par value per share of the preferred stock? What is the dividend per share on…
Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31.Prepare the entries for the declaration and issuance of the stock dividend.
Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock dividend to common stockholders " , market value was $ 40 .0.0 per share . Par value is $ 10.00 per share . There are 50.0, 000 shares of common stock outstanding .March 15: Issued a stock dividend in settlement of the dividend declared on March 1 .October 10 : Declared a 35%6 stock dividend to common stockholders ' . "The market value of theCommon stock is $ 30 per share . The par value is $ 10. 00 . There are 750 , 000 sharesOf common stock outstanding .October 25: issued a stock dividend in settlement of the dividend declared on October 10 .DateDescriptionDebitCredit1 - MarDescription :"15 - MarDescription10 - OctDescription !25 - OctDescription
(R) please answer asap.. The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock’s per share market value on April 2 is $10 (prior to the dividend). Common stock—$5 par value, 555,000 sharesauthorized, 290,000 shares issued and outstanding$ 1,450,000Paid-in capital in excess of par value, common stock670,000Retained earnings923,000Total stockholders' equity$ 3,043,000Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
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Prepare journal entries for each of the following transactions :"March 1 : Declared a 10 %6 stock dividend to common stockholders " , market value was $ 40 .0.0 per share . Par value is $ 10.00 per share . There are 50.0, 000 shares of common stock outstanding .March 15: Issued a stock dividend in settlement of the dividend declared on March 1 .October 10 : Declared a 35%6 stock dividend to common stockholders ' . "The market value of theCommon stock is $ 30 per share . The par value is $ 10. 00 . There are 750 , 000 sharesOf common stock outstanding .October 25: issued a stock dividend in settlement of the dividend declared on October 10 .
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On January 1, Pharoah Company had 87000 shares of $10 par value common stock outstanding. On May 7, the company declared a 5% stock dividend to stockholders of record on May 21. Market value of the stock was $16 on May 7. The stock was distributed on May 24. The entry to record the transaction of May 24 would include a
On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $15 on June 13. Complete the below table to calculate the stock dividend.Prepare a journal entry that summarizes the declaration and distribution of the stock dividend.
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…
A company with 95,000 authorized shares of $7 par common stock issued 42,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $34 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

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