The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.

Entries for selected corporate transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Navo-Go Enterprises stockholders equity accounts, with balances on January 1, 20Y1, are as follows: The following selected transactions occurred during the year: Instructions 1. Enter the January 1 balances in T accounts for the stockholders equity accounts listed. Also prepare T accounts for the following: Paid-In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. 2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of 775,000 to the retained earnings account. 3. Prepare a statement of stockholders equity for the year ended December 31, 20Y1. Assume that net income was 775,000 for the year ended December 31, 20Y6. 4. Prepare the Stockholders Equity section of the December 31, 20Y1, balance sheet.

Prepare journal entries to record the following transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $175,000. August 15 Date of record is August 15 for the cash dividend declared on July 15. Paid the dividend declared on July 15. August 31

July   15   Declared a cash dividend payable to common stockholders of $161,000. Aug.   15   Date of record is August 15 for the cash dividend declared on July 15. Aug.   31   Paid the dividend declared on July 15.  Prepare journal entries to record the above transactions for Emerson Corporation.

On November 12, XYZ Corporation declared a total cash dividend of $45,000 for stockholders of record on November 20 and payable on December 1. (a) Journalize the entries required on November 12, November 20, and December 1. (b) Briefly describe the significance of November 20.

Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)   July   15   Declared a cash dividend payable to common stockholders of $164,000. Aug.   15   Date of record is August 15 for the cash dividend declared on July 15. Aug.   31   Paid the dividend declared on July 15.

The following transactions took place for Solar Company.    Nov. 12   Declared total cash dividend of $45,000 for stockholders of record November 20                        payable on December 1.    Required    Record the journal entries on the above dates  Briefly describe the significance of November 20

The declaration, record, and payment dates in connection with a cash dividend of $101,600 on a corporation’s common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.   CHART OF ACCOUNTS   General Ledger   ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment   LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable   EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess…

Instructions The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a corporation's common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account filles Journal POST REF DEBIT DATE CR