Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account. Requirement 1: To Journalize: The journal entries related to cash dividends and stock dividends.

Question

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Answer 1

Question

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

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Answer 2

Question

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

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Answer 3

Question

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

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Answer 4

Question

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

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Answer 5

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

Answer 6

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

Answer 7

Chapter 13, Problem 2GLP

To determine

Concept Introduction:

Journal entries are medium of recording a financial transaction which occurred during an accounting period. The declaration of cash dividends is recorded by debiting the retained earnings and crediting the cash dividend payable account and stock dividends is declared by debiting the retained earnings and crediting the stock dividend distributable account.

Requirement 1:

To Journalize:

The journal entries related to cash dividends and stock dividends.

Answer 8

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

Answer 9

To determine

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

Answer 10

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

Answer 11

To determine

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

Answer 12

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

Answer 13

To determine

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 13 - Prob. 1QS Ch. 13 - Prob. 2QS Ch. 13 - Prob. 3QS Ch. 13 - Prob. 4QS Ch. 13 - Prob. 5QS Ch. 13 - Prob. 6QS Ch. 13 - Prob. 7QS Ch. 13 - Prob. 8QS Ch. 13 - Prob. 9QS Ch. 13 - Prob. 10QS

Concept Introduction: Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares. Requirement 2: Compute the number of outstanding shares?

Concept Introduction: Net income is the difference between the revenues earned and expenses incurred during an accounting period. Requirement 3: Compute the amount of net income?

Concept Introduction: Retained Earnings is the amount of net income retained by the business organization. Requirement 4: Compute the amount of retained earnings to be capitalized as a result of the stock dividend?

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Chapter 13 Solutions

Concept Introduction:

Outstanding shares are the shares held by the investors of the company. The number of outstanding shares is determined by deducting the number of treasury stock from the number of issued shares.

Requirement 2:

Compute the number of outstanding shares?

Concept Introduction:

Net income is the difference between the revenues earned and expenses incurred during an accounting period.

Requirement 3:

Compute the amount of net income?

Concept Introduction:

Retained Earnings is the amount of net income retained by the business organization.

Requirement 4:

Compute the amount of retained earnings to be capitalized as a result of the stock dividend?