Universal Cable Corporation has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The following equity transactions occurred during the current year:   April 30   June 1 July 1 August 1 September 1 December 15 Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of the stock was $35 per share. Declared a cash dividend of 60 cents per share Paid the 60-cent cash dividend to stockholders. Declared a 5% stock dividend. Market price of stock was $19 per share. Issued shares resulting from the 5% stock dividend declared on August 1. Declared a 50% stock dividend. Market price of stock was $23 per share.   Prepare journal entries to record the above transactions. Compute the number of shares of capital stock outstanding at year-end. What is the par value per share of Universal Cable stock at the end of the year? Determine the effect of each of the following on total stockholders’ equity: stock split, declaration and payment of a cash dividend, declaration and distribution of a stock dividend. (Your answer should be increase, decrease or no effect.)

On July 1, Jones Corporation had the following capital structure:  Common Stock, par $1; 8,000,000 authorized shares, 165,000 issued and outstanding $ 165,000 Additional Paid-in Capital 109,000 Retained Earnings 189,000 Treasury Stock None Required:Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.)  Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share.

A company with 100,000 authorized shares of $6 par common stock issued 35,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $22 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

On January 1, Michelle Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of S5 per share. During the year, the following occurred. Apr. 1issued 55, 000 additional shares of common stock for $17 per share. Jun. 15Declared a cash dividend of $1 per share to stockholders of record on June 30. Jul. 10Paid the $1 cash dividend. Dec. 1Issued 2, 000 additional shares of common stock for $19 per share. 15Declared a cash dividend on outstanding shares of S 1.20 per share to stockholders of record on December 31. Prepare the entries, if any, on each of the dates.

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

Mt. Everest Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On December 1st, the Board of Directors declares a 4% Stock Dividend to be issued to the shareholders of record on December 15th and distributed on December 30th. The market price of the stock on December 1st was $25 per share. Calculate the amount the Company would Debit to Stock Dividends on December 15th:Calculate the amount the Company would Credit to Additional Paid-in Capital…Preferred Stock on December 15:

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…

Vincent corporation has 90,000 shares of $105 per common stock outstanding. On June 30 Vincent corporation declared 3% stock dividend to be issued on July 30 to stockholders of record July 13. The market price of the stock was $123 a share on June 30. Journalize