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Lotoya Davis Corporation has 10.95 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 73 cents per share cash dividend to stockholders of record as of June 14, payable June 30. (a) Prepare the journal entry for each of the dates above assuming the dividend represents a distribution of earnings (b) How would the entry differ if the dividend were a liquidating dividend? 2.The stockholders’ equity accounts of G.K. Chesterton Company have the following balances on December 31, 2014. Common stock, $10 par, 235,000 shares issued and outstanding $2,350,000 Paid-in capital in excess of par—common stock 1,263,000 Retained earnings 5,665,000 Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. 3.he following information has been taken from the ledger accounts of Isaac Stern Corporation. Total income since incorporation $326,300 Total cash dividends paid 70,300 Total value of stock dividends distributed 45,900 Gains on treasury stock transactions 18,290 Unamortized discount on bonds payable 32,720 Determine the current balance of retained earnings. (a) A stock dividend of 7% is (1) declared and (2) issued. (b) A stock dividend of 100% is (1) declared and (2) issued. (c) A 2-for-1 stock split is (1) declared and (2) issued. 4.Green Day Corporation has outstanding 415,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $74 per share. Prepare the journal entries for Green Day Corporation for both the date of declaration and the date of distribution 5.Green Day Corporation has outstanding 410,700 shares of $9 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $65 per share. Prepare the journal entries for both the date of declaration and the date of distribution.
Department W had 2,282 units, one-third completed at the beginning of the period, 13,357 units were transferred to Department X from Department W during the period, and 567 units were one-half completed at the end of the period. What is the equivalen..
Tom and Alice have 30 acres of prime farmland that they have inherited a few years ago. At the time, the market value was $150,000. Tom and Alice have been holding the land as a investment. It is currently appraised for $190,000 with a outstanding mo..
On the first day of the fiscal year, a company issues $80,000, 7%, seven-year instalment notes that have annual payments of $14,844. The first note payment consists of $5,600 of interest and $9,244 of principal repayment. Journalize the entry to reco..
The company has 10,000 shares of 6%, $100 par preferred stock outstanding. In addition, the company has 100,000 shares of common stock outstanding. The company started business on January 1, 20Y1. Total cash dividends paid during 20Y1 and 20Y2 were $..
Determine Deer Park's net income for 2011 and prepare a balance sheet for Deer Park as of December 31, 2011.
4) Comment on the degree to which the statement of revenues, expenditures and other changes in fund balance captures the district's cost of services. How can you validate such a financial statement
Provide a summary of Earthwear operations and strategic plans to maintain corporate viability - create an Accounting graduate level case study
Complete the Income Statement, Cash Flow Projections, and Balance Sheet sections from the "Business Plan Financials" MS Excel template.
Which audit assertion is met when testing renumbered shipping and billing documents.
Describe a cash management strategy that might require a minimum, as well as a maximum, cash balance of $10,000 at the end of each month.
What are the advantages and disadvantages to our company of financing the expansion by issuing bonds? By issuing common stock?
An investment is expected to generate $2,000,000 each year for five years. If the firm's cost of funds is 5%, what is the maximum amount the firm should pay for the investment? You put $200,000 in the bank today; if the annual interest rate paid by t..
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