On January 1, 2022, Ivanhoe Corporation had the following stockholde.pdf

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On January 1, 2022, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 61,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Mar. 1 Apr. 1 July 1 Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $365,500. 31 Dec. 1 $1,464,000 31 191,000 619,000 Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Paid-in Capital in Excess of Par- Common Stock Date Explanation Ref Debit Credit Balance Balance Retained Earnings Date Explanation Ref Debit: Credit Balance Balance Net income Date Account Titles and Explanation Debit Credit Prepare a stockholders' equity section at December 31. (Enter account nome only and do not provide descriptive informotion.) IVANHOE CORPORATION Balance Sheet (Partial) On January 1, 2022, Ivanhoe Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a \$1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2 -for- 1 stock split. Prior to the split, the market price per share was $40. July 1 Declared a 15% stock dividend to stockholders of record an July 15, distributable July 31 . On July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a \$0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $365,500..

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Similar to On January 1, 2022, Ivanhoe Corporation had the following stockholde.pdf

On January 1, 2024 , Blossom Ltd. had the following shareholders' equity accounts: Common shares (1,090,000 issued) $1,635,000 Retained earnings 1,962,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024 , none had been issued. During 2024, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Issued 109,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 104,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Dec. 31 Loss for the year was $103,000. Journalize the transactions and the entries to close dividends and the income Summary account. fGredit occount titles are automatically indented when the amount is entered. Do not indent manually, If no entry is reguired, select "No Entry" for the account titles Open general ledger accounts for the shareholders' equity accounts, enter the beginning balances, and post entries from the .

On January 1- 2024- Blossom Ltd- had the following shareholders' equit.docx

farrahkur54

Graded Assignments Stockholders' Equity The balance sheet of Love Lizzo Incorporated included the following shareholders' equity accounts at December 31. 2022: During 2022, the following events and transactions occurred: - On February 28th, the board of directors declared a property dividend of 7,000 shares of Sowell Corporation common stock that Lizzo had purchased in January as an investment with a cost basis of $125,000. The investment shares had a fair value of $20 per share and were distributed March 31st to shareholders of record March 15th. - On June 30th, a 5\% common stock dividend was declared and distributed. The market value of the common stock was $30 per share. - On September 5 th, the company reissued 1,000 shares of treasury stock at a price of $31 per share. - On December 1st, the board of directors declared the annual cash dividend of 6% on the 10,000 preferred shares, payable on December 28th to shareholders of record December 20th. - On December 1st, the board of directors declared a cash dividend of $0.20 per share on its common shares, payable on December 28th to shareholders of record December 20th. - On December 29th, the company issued 50,000 shares of common stock at a price of $35 per share. - On December 15, a 2-for-1 stock split was declared and distributed. The market value of the $3 par common stock was $40 per share. Hint: the number of treasury shares are affected by this stock split. - Net income for the year was $5,877,000. Required: Part 1: Record the journal entries for each transaction and supporting calculations for each journal entry as necessary. Remember to keep track of the number of shares outstanding, as applicable, for each transaction. Hint: Creating T-accounts and updating each time a journal entry is recorded is helpful. Part 2: Prepare a rellforward of the shareholders' equity section of the balance sheet for Love Lizzo, Inc, at December 31, 2022. Part 3: How many shares of common stock are authorized, issued and outstanding?.

Graded Assignments Stockholders Equity The balance sheet of Love Liz.pdf

concordpharma

Winnie Corporation was organized on January 1, 2022. It is authorized to issue 100,000 sibrtansactions occurred stock with a stated value of $4 per share. The following select equity, debt and invest during the first year of operations. Jan. 15 Issued 30,000 shares of common stock for cash at $7 per share. Feb. 1 Issued $1 , 000 , 000 , 10$5 , 5 -year bonds at 100 . Mar. 8 Purchased 6,000 shares of Wes Corporation common stock ( 6% interest) for $240 , 000 cash. Apr. 15 Purchased 6,000 shares of common stock for the treasury at $42 , 000 . May 1 Purchased 100 , $1 , 0009% Jenny bonds for $100 , 000 . Interest is payable semiannually on May 1 and November 1 . 4 Sold 4,000 shares of treasury stock for $36 , 000 . 15 Issued 10,000 shares of common stock for cash at $10 per share. 17 Sold the remaining 2,000 shares of treasury stock for $8 , 000 . 19 Declared a cash dividend of $2 per share to stockholders on record on May 31. Jun. 15 Paid the $2 cash dividend. Sept. 1 Purchased 40,000 shares of JW Company common stock for $600 , 000 ( $15 per share). This represents 30% of JW's outstanding shares. Oct. 1 Sold 4,000 shares of Wes Corporation Common Stock for $168 , 000 . Nov. 1 Received the semiannual interest on the Jenny bonds. 2 Declared a 10% stock dividend to stockholders of record on November 15, distributable Nov. 30. On Nov. 2, the market price of the stock was $8 per share. 5 Wes Corporation declared and paid a $25 , 000 cash dividend. 28 JW Company declared and paid a cash dividend of $50 , 000 . 30 Issued the shares for the stock dividend. Dec. 31 Wes Corporation reported net income of $150 , 000 . The market price of Wes was $38 per share. 31 The Jenny Company Bonds had a fair value of $103 , 000 . 31 JW Company reported a net income of $200 , 000 for the year. 31 Accrued interest expense on the bonds. 31 Accrued interest revenue on the bonds. Instructions: Journalize the above transactions. Prepare the adjusting entries at December 31,2022 , to report the investment securities at fair value. All securities are considered to be short-term, except for the JW Company commn stock..

Winnie Corporation was organized on January 1- 2022- It is authorized.pdf

aadheshwarahmednagar

The stockholders' equity accounts of Sheffield Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders ' equity. Feb. 1 Issued 24,000 shares of common stock for $117 , 000 . Apr. 14 Sold 6,000 shares of treasury stock-common for $33 , 700 . Sept. 3 Issued 5,100 shares of common stock for a pathit valued at $35 , 000 . Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $5 , 700 . Dec. 31 Determined that net income for the year was $420 , 000 , No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.) (Postentries in the order of joumal entries presented in the previous part.) Preferred Stock Retained Earnings eTextbook and Media Assistance Used List of Accounts Attempts: 3 of 5 used Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) SHEFFIELD CORPORATION Balance Sheet (Partial) December 31,2022 Stockholders' Equity Paid-in Capital Capital Stock: Preferred Stock Common Stock Total Capital Stock Additional Paid in Capital Paid in Capital in Evcess of Par-Preferred Stock Paid in Capital in Excess of Stated Value Common Stock Paid-in Caphtal from Treasury Stock Total Additional Paidfin Capitat Total Paid-in Capital Retained Earnines Total Paid-in Capital and Retahed Cornizgs ? Treasary stock Total Stockholders' Equity.

The stockholders' equity accounts of Sheffield Corporation on January.pdf

aasmaainternational

The equity sections for Atticus Group at the beginning of the year (Ja.pdf

pranitrathod03

Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock The stock outstanding when a corporation has issued only one class of stock. 3 for 1 and reduced the par A dollar amount assigned to each share of stock. from $75 to $25 per share. After the split, there were 1,200,000 common shares outstanding. Feb. 28 Purchased 40,000 shares of the corporation’s own common stock at $28, recording the stock Shares of ownership of a corporation. at cost. May 1 Declared semiannual dividends Distribution of a corporation’s earnings to stockholders. of $0.80 on 75,000 shares of preferred stock A class of stock with preferential rights over common stock. and $0.12 on the common stock to stockholders The owners of a corporation. of record on June 1, payable on July 10. Jul. 10 Paid the cash dividends A cash distribution of earnings by a corporation to its shareholders. . Sep. 7 Sold 30,000 shares of treasury stock Stock that a corporation has once issued and then reacquires. at $34, receiving cash. Oct. 1 Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend A distribution of shares of stock to its stockholders. was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. Dec. 1 Paid the cash dividends and issued the certificates for the common stock dividend. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Fill in the data below … or a separate Excel page JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 1. Feedback Check My Work Explanation Chart of Accounts Primo Discount Corporation 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 of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depre.

Selected transactions completed by Primo Discount Corporation duri.docx

kenjordan97598

Scenario 1 : 1) Dec 31st Profit & loss Appropriation/ reserves Account Dr $1 / share To Proposed Dividend $ 1/ share 2) 20th Jan Proposed dividend Account Dr $ 1/ share To Bank $ 1/ share Scenario 2: 1) Dec 31st Profit & loss Appropriation/ reserves Account Dr $5 / share To Proposed Dividend $ 5/ share 2) 20th Jan Proposed dividend Account Dr $ 5/ share To Bank $ 5/ share Notes: Dividend is the source of income of shareholders when they invest money in shares for gaining the dividend. On the other hand, when company declares the dividend for shareholder, it will be the deduction of its net profit. For transferring dividend out of net profit, we make the profit and loss appropriation account. Following are the journal entries of dividends 1. When dividend is proposed by company out of net profit. Profit and Loss Appropriation Account Debit Proposed Dividend Account Credit 2. When Proposed dividend is paid by Company Proposed Dividend Account Debit Bank Account Credit 3. When Dividend is Declared Out of Retained Earning Retained Earning Account Debit Dividend Account Credit 4. When Such Dividend is Paid Dividend Account Debit Bank Account Credit Examples : Let’s assume that the Reliance Corporation, on Dec. 20, 2011, declared a cash dividend of Rs. 2 per share on 4,00,000 shares payable April 1, 2012, to all stockholders of record March 15. The following journal entries are required: 1. Date of declaration, Dec. 20, 2011 Retained Earning Account Debit 8,00,000 Dividend Payable Account Credit 8,00,000 2. When dividend is paid on Date of payment, April 1, 2012 Dividend Payable Account Debit 8,00,000 Bank Account Credit 8,00,0000 Important : Sometime company may not have sufficient cash, at that time, company may give his fully paid up new equity shares or other investments. So, we will not credit the bank account but we will credit the equity share capital or investment. Solution Scenario 1 : 1) Dec 31st Profit & loss Appropriation/ reserves Account Dr $1 / share To Proposed Dividend $ 1/ share 2) 20th Jan Proposed dividend Account Dr $ 1/ share To Bank $ 1/ share Scenario 2: 1) Dec 31st Profit & loss Appropriation/ reserves Account Dr $5 / share To Proposed Dividend $ 5/ share 2) 20th Jan Proposed dividend Account Dr $ 5/ share To Bank $ 5/ share Notes: Dividend is the source of income of shareholders when they invest money in shares for gaining the dividend. On the other hand, when company declares the dividend for shareholder, it will be the deduction of its net profit. For transferring dividend out of net profit, we make the profit and loss appropriation account. Following are the journal entries of dividends 1. When dividend is proposed by company out of net profit. Profit and Loss Appropriation Account Debit Proposed Dividend Account Credit 2. When Proposed dividend is paid by Company Proposed Dividend Account Debit Bank Account Credit 3. When Dividend is Declared Out of Retained Earning Retained Earning Account Debit Dividend Account Credi.

Scenario 1 1) Dec 31st Profit & loss Appropriation reserves Acco.pdf

apexsports101

Required information [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. The following transactions and events affected its equity during the year. January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. 2. What is the total dollar amount for each of the four cash dividends?.

Required information -The following information applies to the questio (35).pdf

aakarshanelectronic

Required information [The following information applios to the questions disployed below] The equity sections for Atticus Group at the beginning of the year (January 1 ) and end of the year (December 31) follow. The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. Apri1 5 peclared a se.40 per share cash dividend, date of record April 10. July 5 Declared a so, 50 per share cash dividend, date of record July 19. July 31 Declared a 208 stock dividend when the stock's narket value was $12 pee share. Augast 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.40 per share cash dividend, date of recond october 10. 3. What is the amount of tetained earnings transferred to paid-in copital accounts (copitaized) for the stock dividend?.

Required information -The following information applios to the questio.pdf

Ian0J2Bondo

On January 1, 2020, Pharoah Corporation had 96,000 shares of no-par common stock issued. 5,000 shares are held as treasury stock The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 14,000 additional shares of common stock for $15 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec 1 Purchased 2,200 additional shares of common stock for $14 per share. Dec. 15 Declareda cash dividend on outstanding shares of 51.10 per share to stockholders of record on December 31. (a) Your answer is incorrect. Prepere the entries, if any, on each of the three dividend dates. (Credit account litles are automatically indented when the amount is entered. Do not indent manually, If no entry is required, select "Wo Entry" for the account titles and enter O for the amounts. List all debic entries before credit entries. Record journal entries in the order presented in the problem.).

On January 1- 2020- Pharoah Corporation had 96-000 shares of no-par co.pdf

Edwardw5nSlaterl

Solve and explain please Requlred Information [The following Information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. On February 5 , the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend. 1. Prepare entrles to record both the dividend declaration and its distribution. Journal entry worksheet Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Requlred Information [The following Information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend. 1. Prepare entrles to record both the dividend declaration and its distribution. Journal entry worksheet Record the distribution of a 2% stock dividend. Note: Enter debits before credits..

Solve and explain please Requlred Information -The following Informati.pdf

aksahnan

The stockholders' equity accounts of Ivanhoe Corporation on January 1, 2027, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,400 shares authorized) Common Stock ($4 stated value, 294,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,400 common shares) Feb. 1 Mar. 20 Oct. 1 Nov. Dec. During 2027, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 1 $264,000 Dec. 31 940,800 13,200 470,400 699,500 35,200 Issued 4,400 shares of common stock for $30,800. Purchased 1,400 additional shares of common treasury stock at $8 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2027. Paid the dividend declared on December 1. The stockholders equity accounts of Ivanhoe Corporation on January 1, 2027, were as follows. During 2027, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,400 shares of common stock for $30,800. Mar. 20 Purchased 1,400 additional shares of common treasury stock at $8 per share. Oct. 1 Declareda 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec 1 Deciared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31. 2027. Dec. 31 Paid the dividend declared on December 1. (a) Prepare a tabular summary that includes the January 1, 2027, balances. Do not include the beginning balance in Retained (b) Record the 2027 transactions in the tabular summary. Include margin explanations for the changes in revenues and expenses. (Round answers to 0 decimal ploces, eg. 5,275.) - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Increases in Discount on Bonds Poyable require a negotive sign or parentheses. - Increases in Treasury Stock require a negative sign or parentheses. (a) BaL. (b) Feb, 1 Mar.20 Oct. 1 Nov. 1 Dec 1 Dec. 31 $$$$ 30,800 . Stockholders' Equity Retained Earnings Treasury Stock Revenue Expense Dividend ; $$ 5 I. Retained Earnings Expense $ Dividend $ Commonstock Dividends Interest expense Paid-in- capital in excess of common stock Paid in-capital in excess of preferred stock Preferred stock.

The stockholders equity accounts of Ivanhoe Corporation on January .pdf

Clothcafejpr

Required information [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. The following transactions and events affected its equity during the year. January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10 . July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?.

Required information -The following information applies to the questio (58).pdf

info114

2. Prepare the statement of stockholders' equity for the year ended December 31,2021 . (Amounts to be deducted should be indicated by a minus sign.) Required information [The following information applies to the questions displayed below] Donnie Hilfiger has two classes of stock authorized. $1 par preferred and \$0.01 par value common. As of the beginning of 2021,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 March 1 Issue 1,100 shares of connon stock for $42 per share. May 15 Purchase 400 shares of treasury stock for $35 per share. July 10 Rese11 200 shares of treasury stock purchased on May 15 for s40 per share. October 15 Issue 200 shares of preferred stock for \$45 per share. December 1 Declare a cash dividend on both common and preferred stock of 50.50 per share to all stockholders of record on December-15. (Hint: Dividends are not paid on treasury stock.) Decenber 31 pay the cash dividends declared on December 1. Donnie Hifiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, \$300; Common Stock, \$40; Additional Paid-in Capital, \$76,000; and Retained Earnings, \$30,500. Net income for the year ended December 31, 2021, is $10,800. Taking into consideration the beginning balances on January 1,2021 and all the transactions during 2021, respond to the following for Donnie Hilfiger: equired: Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. (Amounts to be deducted should be dicated by a minus sign.).

2. Prepare the statement of stockholders equity for the year ended D.pdf

Fablooksurat

The Annapolis Corporation's stockholders' equity accounts have the following balances as of January 1,201 12% preferred stock, cumulative, $50 par (10,000 shares issued and outstanding) 5500,000 Common stock, $10 par (100,000 shares issued and outstanding) Additional paid-in capitat common Retained earnings Total stockholders' equity 1 , 000 , 000 1 , 000 , 000 3 , 750 , 000 $ , 250 , 000 Annapolis engaged in the following dividend transactions during 2018, 2019, and 2020 . 3 3s Dividends are in arrears for 2016 and 2017, On December 1, 2018, the annual cash dividend plus the dividends in arrears were dectared on the preferred stock. In addition, a 51.50 per share dividend was declared on the common stock. The dividends were paid on December 31,2018 . On December 1, 2019, the annual cash dividend on the preferred stock was declared. The dividend was paid on Decernber 31, 2019. On December 10 , a 30% stock dividend was declared on the common stock, distributable on January 25, 2020. The market price per share for the common stock on December 10,2019, was $28 . On January 25, 2020, the stock dividend declared on Decernber 10, 2019, was issued On December 1, the annual cash dividend on the preferred ttock was declared; it is payable on Jamuary 15 , 2021 . In aquition. on December t 1 = 104 stoek dividend was deolared on the common stock, distributable on January 20, 2021. The market price per share for the common stock on December 1,2020, was $23 . No other stock transactions took place during 2018, 2019, or 2020. Reguired Prepare the entries to record the dividond transactions for 2018, 2019, and 2020. (Do not record any transactions.

The Annapolis Corporation's stockholders' equity accounts have the fol.pdf

aadyacouture

Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common. stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2 , 2021,4,000,000 shares of the common stock are issued in exchange for cash at an average price of $12 per share. Also on January 2. ail 2,000,000 shares of preferred stock are issued at $25 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus bolance sheet as of March 31, 2021. (Assume net income for the first. quarter 2021 was $1,650,000. Part B During 2021, the Nickdaus Corporation partiopated in three treasury stock transactions: a. On June 30,2021 b. On July 31, 2021, 15, 0ution reacquires 230,000 shares for the treasury at a price of $14 per share. c. On September 30,2021,15,000 treasury shares are reissued ot $12 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30. 2021. (Assume net income for the second and third quarter was $3,150,000 ) Part C On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800, 000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new par value is one-haif the amount of the old, this represents a 2.for-1 stock split. That is, the shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1 par stock they own. The $1 por stock will be collected and destroyed by the issuing corporation. On November 1, 2021, the Nicklaus Corporation declares a $0.16 per share cash dividend on common stock and a $0.33 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the Nicklaus Corporation declares a ts stock dividend payable on December 28, 2021, to sharehoiders of record on December 14. At the date of deciaration, the common stock was seling in the open market at $12 per share. The dividend will resuit in 76,000(0.017,600,000) additional shares being issued to shareholders. Required: 1. Prepare journat entries to record the deciaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,650,000j 3. Prepare a statement of shareholders' equity for Nicilaus Corporation for 2021.On December 2, 2021, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market a.

Part A In late 2020 the Nicklaus Corporation was formed Th.pdf

agarshail

3 At December the financial statements of Cavanni.pdf

bkbk37

The post-closing trial balance of Wildhorse Corporation at December 31,2022 , contains the following stockholders' equity accounts. A review of the accounting records reveals the following. 1. No errors have been made in recording 2022 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative, 15,800 shares have been outstanding since January 1,2021. 3. Authorized stock is 20,800 shares of preferred, 520,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,190,000. 5. On July 1,19,400 shares of common stock were issued for cash at $18 per share. 6. On September 1, the company discovered an understatement error of $92,400 in computing salaries and wages expense in 2021 . The net of tax effect of $64,680 was properly debited directly to Retained Earnings. 7. A cash dividend of $260,000 was dectared and properly allocated to preferred and common stock on October 1. No dividends were paid to preferred stockholders in 2021. 8. On December 31 , a 10% common stock dividend was declared out of retained eamings on common stock when the market price per share was $18. 9. Net income for the year was $595,000. 10. On December 31,2022 , the directors authorized disclosure of a $208,000 restriction of retained earnings for plant Compute the allocation of the cash dividend to preferred and common stock. Allocation of the cash dividend to preferred stock Allocation of the cash dividend to common stock (a) Reproduce the Retained Earnings account for 2022. (Uist items in order presented in the problem.) Prepare a stockholders' equity section at December 31, 2022. (Enter account name only and do not provide descriptive information) WILDHORSE CORPORATION Partial Balance Sheet $$.

The post-closing trial balance of Wildhorse Corporation at December 3.pdf

fairdealinternationa

Similar to On January 1, 2022, Ivanhoe Corporation had the following stockholde.pdf (18)