The company could issue 300,000 additional shares of $1 par
value common stock for $7.50 per share The company will begin
paying a dividend to ALL the common shareholders of $0.20 per share
and this will continue into the future.
I need help with Journal Entries for this, a partial balance
sheet, and the below ratios.
Current Ratio Current Assets Current Liabilities Debt to Asset
Ratio Total Debt Total Assets Return on Equity Net Income Total
Equity Return on Assets...
York’s outstanding stock consists of 90,000 shares of 7.0% preferred stock with a $5 par value and also 160,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends:
2015 total cash dividends
$
19,800
2016 total cash dividends
29,500
2017 total cash dividends
285,000
2018 total cash dividends
435,000
rev: 11_29_2018_QC_CS-149901
Exercise 11-9 Dividends on common and cumulative...
Starting a Company
(1) Issues 50,000 shares of $10 par value common stock at par
value for cash.
(2) Acquires land and building costing $225,000 with the payment
of $50,000 cash and the assumption of a 20-year, 8-percent mortgage
for the balance.
(3) Purchases a used crane for $13,200 cash
(4) Acquires raw materials costing $8,600 on account.
(5) Returns defective raw materials purchased in (4)
and costing $900 to the supplier. The account has not yet been
paid.
(6)...
Treasury Stock Pomona Corporation issued 60,000 shares of $3 par value common stock at $21 per share and 9,000 shares of $30 par value, ten percent preferred stock at $85 per share. Later, the company purchased 2,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Pomona sold 1,500 shares of the treasury stock at $30 per share. Prepare the general journal...
Assume that 2,000 shares of common stock with a par
value of $12 and a market price of $16 per share are issued in
exchange for land with a fair market value of $32,000.
a. Prepare the journal entry to record the transaction.
b. If the land's appraised fair market value were $33,000, what
would be the correct entry to record
the transaction?
c. Prepare the necessary journal entry, assuming the same facts as
in (b), except that the stock...
A corporation issued 20,000 shares of $5 par value 6%
preferred stock, and 10,000 shares of $10 par value common stock,
when the corporation was formed two years ago. No dividend was
declared or paid last year. This year the corporation has $50,000
available for dividends. How much should each share of common stock
receive?
$3.80
$2.80
$4.40
zero
The statement of cash flows helps address questions such
as
How is the increase in investments
financed?
How much cash is...
Preferred Stock- 5% $11 Par Value 5,500 shares authorized 4,000
shares issued and outstanding
Common Stock - $.20 Par Value 2,000,000 shares authorized,
1,650,000 shares issued and outstanding
Requirement 1.
Sapphire declares cash dividends of $28,000 for 2018.
How much of the dividends goes to preferred? stockholders? How
much goes to common? stockholders? ?(Complete all input boxes.
Enter? "0" for any zero? amounts.)
Sapphire dividend would be divided between preferred and common
stockholders in this? manner:
Total Dividend
Dividend to...
York’s outstanding stock consists of 80,000 shares of 7.5%
preferred stock with a $5 par value and also 200,000 shares of
common stock with a $1 par value. During its first four years of
operation, the corporation declared and paid the following total
cash dividends:
2015 total cash dividends
$
20,000
2016 total cash dividends
28,000
2017 total cash dividends
200,000
2018 total cash dividends
350,000
rev: 11_29_2018_QC_CS-149901
Exercise 11-9 Dividends on common and cumulative preferred stock
LO C2...
On June 1, Summit Corporation issued 1,000
shares of $100 par value preferred stock at par value. On June 10,
the corporation issued 3,000 shares of $10 par value common stock
for $18 per share. On June 15, Summit issued 15,000 shares of
common stock in exchange for land with a fair market value of
$60,000 and a building with a fair market value of $180,000.
Prepare journal entries for the above
transactions.
If a corporation issues 5,000 shares of $5 par value common
stock for $ 90,000, the journal entry would include a credit
to:
A.Common Stock for $ 90,000.
B.Common Stock for $ 65,000.
C.Paidminusin Capital in Excess of Parlong dashCommon for $
90,000.
D.Paidminusin Capital in Excess of Parlong dashCommon for $
65,000.
If a corporation issues 2,000 shares of $1 par value common
stock for $ 10,000, the journal entry would include a credit
to:
A.Common Stock for $...