Reference no: EM1315668
Journal entries to record issuance of stock, declaration of dividend and payment of dividend.
Common and preferred stock - issuance and dividends. Permabilt Corp. was incorporated on January 1, 2008, and issued the following stock for cash:
3.6 million shares of no-par common stock were authorized; 1,050,000 shares were issued on January 1, 2008, at$46 per share.
1,200, 000 shares of$100 par value, 10.5% cumulative, preferred stock were authorized, and 420,000 shares were issued on January 1, 2008, at$132 per share.
Net income for the years ended December 31, 2008, 2009, and 2010, was$15,750,000, and $22,350,000, and$26,100,000, respectively.
No dividends were declared or paid during 2008 and 2009.However, on December 17, 2010, the board of directors of Permabilt Corp. declared dividends of$37,200,000, payable on February 9, 2011, to holders of record as of January 4, 2011. Write journal entries to show the effect of
(a) The issuance of common stock and preferred stock on January 1, 2008.
(b) The declaration of dividends on December 17, 2010.
(c) The payment of dividends on February 9, 2011.
|
Algorithm to prepare a job applicant report
: Develop an algorithm in order to prepare a job applicant report. Input consists of a series of records that contain the Social Security number or equivalent, last name, first name, middle initial, verbal test score, science test score, math test s..
|
|
Computation of the current price of the bond
: Computation of the current price of the bond and What is the value of the same bond if the interest is paid semi-annually
|
|
Calculation of current market price of the share
: Calculation of current market price of the share and What is the intrinsic value of the warrant and What is the speculative premium on the warrant?
|
|
Probability based on relative frequency
: What is the probability that a roulette ball will come to rest on an even number other than 0 and 00?
|
|
Declaration of dividend and payment of dividend
: Journal entries to record issuance of stock, declaration of dividend and payment of dividend - Write journal entries to show the effect of issuance of common stock and preferred stock on January 1, 2008.
|
|
Algorithm to read an arbitrary number
: Develop an algorithm to read an arbitrary number of the data records, each consisting of a name, age, and code. A Code of 1 will indicate female, a code of 2 will indicate male.
|
|
Determining probability that mean is less
: Mean=63.6 Standard deviation=2.5 If 36 data points are arbitrarily chosen, determine the probability that mean is less than 64.
|
|
Computing of nrp and erp
: You are given the following information about the personal computer (PC) industry: Find the NRP and the ERP. Show all calculations and formulas.
|
|
Computation of the bond coupon and current yield
: Computation of the bond coupon and current yield and yield to maturity and what annual dollar coupon amount will investors receive
|