On January 1, 2020, Cullumber Corporation had $1,125,000 of common stock outstanding that was issued at...

On January 1, 2020, Cullumber Corporation had $1,125,000 of common stock outstanding that was issued at par. It also had retained earnings of $746,500. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $410,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2020, for the following independent assumptions. a. Par value is $10, and market price is $19. b. Par value is $5, and market price is $20.

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ekkarill92 answered 1 year ago

On January 1, 2022, Concord Corporation had $1,170,000 of common stock outstanding that was issued at...

On January 1, 2022, Concord Corporation had $1,170,000 of common stock outstanding that was issued at par and retained earnings of $767,000. The company issued 32,000 shares of common stock at par on July 1 and earned net income of $464,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...

Cullumber Corporation had 102,000 common shares outstanding on December 31, 2019. During 2020, the company issued...

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On January 1, 2020, ABC Corporation had 990,000 shares of common stock outstanding. On March 1,...

On January 1, 2020, ABC Corporation had 990,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On May 1, the company issued a 5% stock dividend. On July 1, the corporation declared and issued a 3-for-1 stock split. On October 1, the corporation repurchased on the market 400,000 of its own outstanding shares and retired them. Instructions Compute the weighted average number of shares to be used in computing earnings...

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On January 1, 2027, Ajax Corporation had 10 million shares of common stock, issued and outstanding. On October 1, 2027 Ajax issued an additional 1 million shares of common stock. Ajax also has $40 million face value, 6.25% convertible bonds outstanding for the entire year. The bonds are convertible into 2 million common shares. Ajax has a tax rate of 40% and net income of $14 million in 2027. What is Ajax’s diluted earnings per share for 2027? $1.35 $1.27...

On January 1, 2017, Novak Corp. had $ 1,430,000 of common stock outstanding that was issued...

On January 1, 2017, Novak Corp. had $ 1,430,000 of common stock outstanding that was issued at par and retained earnings of $ 730,000. The company issued 21,000 shares of common stock at par on July 1 and earned net income of $ 400,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2017, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If...

Concord Corporation had 129,600 shares of stock outstanding on January 1, 2020. On May 1, 2020,...

Concord Corporation had 129,600 shares of stock outstanding on January 1, 2020. On May 1, 2020, Concord issued 64,800 shares. On July 1, Concord purchased 10,560 treasury shares, which were reissued on October 1. Compute Concord’s weighted-average number of shares outstanding for 2020. Weighted-average number of shares outstanding

On January 1, 2020, a company had 700,000 shares of common stock outstanding. On March 1,...

On January 1, 2020, a company had 700,000 shares of common stock outstanding. On March 1, it issued a 3-for-1 stock split. On July 1 it Issued 50,000 shares. On September 1 it Issued a 20% stock dividend. Determine the weighted-average number of shares outstanding as of December 31, 2020.

On January 1, Novak Corp. had 99,000 shares of no-par common stock issued and outstanding. The...

On January 1, Novak Corp. had 99,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 25,500 additional shares of common stock for $17 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 Issued 3,000 additional shares of common stock for $19 per...

On January 1 Windsor, Inc. had 74,000 shares of no-par common stock issued and outstanding. The...

On January 1 Windsor, Inc. had 74,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following transactions occurred: Apr. 1 Issued 11,000 additional shares of common stock for $10 per share. June 15 Declared a cash dividend of $1.00 per share to stockholders of record on June 30. July 10 Paid the $1.00 cash dividend. Dec. 1 Issued 6,000 additional shares of common stock for $14...

On January 1, 2020, Sunland Manufacturers had 342,000 common shares outstanding. On April 1, the corporation...

On January 1, 2020, Sunland Manufacturers had 342,000 common shares outstanding. On April 1, the corporation issued 34,200 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 9,900 of its own outstanding common shares to make them available for issuances related to its key executives’ outstanding stock options. a) Calculate the weighted average number of shares outstanding...

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