1. How many shares of stock were outstanding on Jan. 1, Mar. 31, and Dec. 31, 2019 assuming no other events related to shareholders' equity occurred? 2. What effect did the share dividends have.on total shareholders' equity? Dronaro the entries for these two events.
Q: The stockyholder's section of the balance sheet contains such as the following . Common stock .…
A: Since you have posted a question with multiple sub-parts, we will do the first three sub-parts for…
Q: How much is the total shareholder's equity at December 31,2019? To input answers, kindly follow the…
A:
Q: The following information and transactions took place during 2019: May 1. Declared a $3 per share…
A: Closing entries are those entries posted to close the accounts by making adjustments and these…
Q: How many are the ordinary shares outstanding after reflecting the foregoing transactions for the…
A: Ordinary shares refer to the equity shares of the company. Ordinary or common shareholders are…
Q: 1. Prepare the journal entries to record these transactions. 2. Prepare the share capital section of…
A: Dividends refers to the sum of money distributed from the profits of the company to its…
Q: (a) How many new shares of common stock did 3M issue during fiscal 2019? new shares issued (b) What…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Required: Journal entries to record transactions of 2021 to determine the following 1. Total amount…
A: Shareholders Equity Shareholders equity which consist of both equity shares and preference shares…
Q: Based on the above journal: Prepare the company’s Stockholders equity section of the balance sheet…
A: Shareholders Equity Shareholders equity which is comprises of common stock and preference stock…
Q: Bramble Company's ledper shows the following balances on December 31, 2020. 6% Preferred Stock-$10…
A: Answer a: The preferred stock is cumulative and fully participating: Annual Dividend of preferred…
Q: Use the information above for FDW Co. to answer the following question: On March 27, 2020, what…
A: The answer for the multiple choice question and relevant explanation are presented hereunder :
Q: At the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding.…
A: The weighted average number of shares is calculated by taking the number of outstanding shares and…
Q: According to the balance sheet, how many outstanding shares does Johnson & Johnson have on their…
A: Outstanding shares are those shares that are authorized and issued by the organization and are kept…
Q: In additin to the above question: Prepare the company’s Stockholders equity section of the balance…
A: Introduction: Stockholders' equity is the total funds contributed by the shareholders of the company…
Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…
A: Dividend is the amount to be paid by the company out of profit made to the shareholder's of the…
Q: How much is the ordinary share capital as of December 31,2019? How much is the total shareholder's…
A: Ordinary share capital is the capital for which there is voting…
Q: My answer is in blue pen. On question 4, is that all it is asking for? Seems kind of simple for a…
A: Stock split: Stock split refers to the dividing one share into two or more shares, in order to make…
Q: Marco, Inc. determined the following information concerning its common stock during 2020: January 1…
A: The number of outstanding shares is computed using the issuance date as the base and making…
Q: Required information [The following information applies to the questions displayed below.] Financial…
A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…
Q: The information below is available for XYZ Co. . The number of shares to be used in computing…
A: Earnings per ordinary share means how much earnings is attributable to one share. Earnings…
Q: On January 1, 2019, Powder Company provided the following shareholders’ equity section of its…
A: Stockholders’ equity: It can be defined as the residual amount of assets that are available to the…
Q: The following transactions were taken from the records of Marimar Company for you to prepare a…
A: Statement of equity shows the position of the funds which represents the balance of the shareholders…
Q: How many shares of the Company’s common stock were outstanding as of January 29, 2022?
A: Basic Net income per share = net income/ Number of shared outstanding
Q: Dear Bartleby, Can you please assist with the horizontal model and calculations, thank you…
A: The journal entries are prepared to record day to day transactions of the business. The accounting…
Q: 4. Notebook Company had the following transactions in 2019, its first year of operations. Issued…
A: Stockholders' equity, additionally alluded to as shareholders' value, is the excess measure of…
Q: The question was about journaling a dividend to preferred stock. The question posed was; There was…
A: Working note: Computation of dividend on preferred stock: Preferred dividend=Par value of preferred…
Q: One company issued 2000 shares of 5%, $100 par cumlative preferred stock as of 12/31/2019. No other…
A: Dividend is the profit distributed by the company to its shareholders. When a company have surplus…
Q: The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares…
A: Answer: debit to dividends playable
Q: Instructions Show the allocation of dividends to each class of stock, assuming the preferred stock…
A: Q 1 (a) Item 2017 2018 2019 Preferred stock (Note 1) 10000 12000 12000 Common…
Q: All of the following occurred in 2019. A Plc has 3,500,000 shares in issue on 1st January. On 1st…
A: Basic EPS (Earning per share) used to tell the investors that the amount of net income of the firm…
Q: Statement of Stockholders' Equity You have been asked to assist with the preparation of a statement…
A: A statement of stockholders’ equity is a financial statement prepared at the end of an accounting…
Q: Required: a. Calculate the amount of the total annual dividend requirement on preferred stock. b.…
A: Hi student Since there are multiple subparts,we will answer only first three subparts. If you want…
Q: Statement of Shareholders' Equity On January 1, 2019, Powder Company provided the following…
A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…
Q: A company was organized on January 1, 2019. During its first year, the company issued the following…
A: The question is based on the concept of Financial Accounting. Preference shareholders carries the…
Q: Why is the statement of stockholders equity prepared before the June 39, 29Y9 balance sheet?
A: Stockholder’s equity: Stockholders' equity might include common stock, paid-in capital, retained…
Q: On January 1st, 2021, Bayshore Boats, Inc. had 30,000 shares of common stock outstanding. On…
A: Number of shares issued on stock split = ( 30,000 + 10,000 + 8,000 ) x 4 = 192,000 shares
Q: Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash:…
A: A common stock dividend seems to be a payment made to common stockholders from the corporation's…
Q: The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts…
A: Solution 1- No. Date General Journal…
Q: How many are the ordinary shares outstanding after reflecting the foregoing transactions for the…
A: Preference share capital refers to the portion of the share capital whose holders are paid dividends…
Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…
A: Dividend is the amount to be paid by the company out of profit made to the shareholder's of the…
Q: Sandhill Company reported the following amounts in the stockholders’ equity section of its December…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: How much is the total shareholder's equity at December 31,2019? 2. How many ordinary shares are…
A: Issue of Shares It is important for the business to raise the fund which are needed for the daily…
Q: However, now assume that for this question only that the preferred shares were cumulative and…
A: Preferred Shareholders dividend for 2019 not Paid before = 300,000 x 0.90 =270,000 Preferred…
Q: Ricci Corporation is preparing their financial statements for the year ending September 30, 2021.…
A: Correct option is b. No, do not include the preferred dividends in the calculation of EPS
Q: Coronado Company reported the following amounts in the stockholders’ equity section of its December…
A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…
Q: A corporation declared a cash dividend on its ordinary shares on Dec. 15, 2018, payable on Jan. 12,…
A: Step 1 Dividend is the amount paid by company to shareholders as an interest for buying and holding…
Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…
A: Dividend - Dividend is the amount to be paid the shareholders out of the profit made by the company.
Q: Splish Company reported the following amounts in the stockholders’ equity section of its December…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Presented below is information related to Alligator Corporation for 2019. 1. On September 4,…
A: Journal entries: it is the duty of the accountant to record business economic and non economic…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 2 images
- Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?Stock Dividends Crystal Corporation has the following information regarding its common stock: S10 par. with 500.000 shares authorized, 213,000 shares issued, and 183,700 shares outstanding. On August 22, 2019, Crystal declared and paid a 15% stock dividend when the market price of the common stock was $30 per share. Required: Prepare the journal entries to record declaration and payment of this stock dividend. Prepare the journal entries to record declaration and payment assuming it was a 30% stock dividend.Stock Dividend The balance sheet of Cohen Enterprises includes the following stockholders equity section: Required: On April 15, 2019, when its stock was selling for $18 per share, Cohen Enterprises issued a small stock dividend. After making the journal entry to recognize the stock dividend, Cohens total capital stock increased by $270,000. In percentage terms, what was the size of the stock dividend? Ignoring the small stock dividend discussed in Requirement 1, assume that on June 1, 2019, when its stock was selling for $22 per share, Cohen issued a large stock dividend. After making the journal entry to recognize the stock dividend, Cohens retained earnings decreased by $75,000. In percentage terms, what was the size of the stock dividend?
- Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and outstand ing $5 par common shares. During 2019, Fusion entered into the following transactions: Declared a S0.30 per-share cash dividend on March 10. Paid the $0.30 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $18 each on May 2. Sold 1.500 unissued common shares for $23 per share on June 9. Declared a $0.45 per-share cash dividend on August 10. Paid the $0.45 per-share dividend on September 10. Declared and paid a 5% stock dividend on October 15 when the market price of the common stock was $25 per share. Declared a $0.50 per-share cash dividend on November 10. Paid the $0.50 per-share dividend on December 10. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) Determine the total dollar amount of dividends (cash and stock) for the year. CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
- Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Calculating the Number of Shares Issued Castanet Inc. issued shares of its $1. 50 par value common stock on November 9,2019, for $13 per share. In recording the issuance of the stock, Castanet credited the Additional Paid-In Capital- Common Stock account for $416,300. Required: How many shares were issued on November 9, 2019?Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?
- Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Stanley Utilities engaged in the following transactions involving its equity accounts: Sold 3,300 shares of common stock for $15 per share. Sold 1,000 shares of 12%, $100 par preferred stock at $105 per share. Declared and paid cash dividends of $8,000. Repurchased 1,000 shares of treasury stock (common) for $38 per share. Sold 400 of the treasury shares for $42 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $87,000. Prepare a statement of stockholders equity at December 31, 2020.Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented below. Make a list of the numbers 1 through 12 and match the letter of the most directly related definition or example with each number Definitions and Examples Capitalizes retained earnings. Shares issued minus treasury shares. Emerson Electric will pay a dividend to all persons holding shares of its common stock on December 15, 2019, even if they just bought the shares and sell them a few days later. The accumulated earnings over the entire life of the corporation that have not been paid out in dividends. Common Stock account balance divided by the number of shares issued. The state of Louisiana set an upper limit of 1,000,000 on the number of shares that Gumps Catch Inc. can issue. Shares that never earn dividends. Any changes to stockholders equity from transactions with no owners. A right to purchase stock at a specified future time and specified price. j. A stock issue that requires no journal entry. k. Shares that may earn guaranteed dividends. 1. On October 15, 2019, General Electric announced its intention to pay a dividend on common stock.Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its 10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was 20 per share. The shares were issued on December 24, 2019. What was the effect on Garretts shareholders equity accounts as a result of the preceding transactions?