Independent assumptions, On January 1, 2014, Lauren

Independent assumptions

Assignment Help Financial Accounting

Reference no: EM13748817

On January 1, 2014, Lauren Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.

Instructions

Journalize the declaration of a 15% stock dividend on December 10, 2014, for the following independent assumptions.

(a) Par value is $8, and market price is $18.

(b) Par value is $5, and market price is $20.

Reference no: EM13748817

Questions Cloud

Under a modified wage plan an employee earns : Under a modified wage plan, an employee earns $1.50 for each finished unit and is guaranteed $18 per hour as a minimum wage. If the daily quota is 96 units, on a particular day when an employee completes 90 units and works 8 hours, the amount of the ..

Which characteristics does internet have that media lack : Which of the following characteristics does the Internet have that traditional media lack? Which of the following is a formal constitutional requirement for becoming president?

The conservatism constraint : The conservatism constraint: Requires that when more than one equally likely estimate of amounts is expected to be received or paid in the future, then the less optimistic amount should be used.

Building the business plan is to complete a financial plan : Part of a building the business plan is to complete a financial plan. Ed's lemonade stand is a start-up business. The first year's projections have been completed. Our task is to complete the projection for the second year. Following is the informati..

Independent assumptions : On January 1, 2014, Lauren Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 f..

An employer presented a salary offer : What steps would you take if an employer presented a salary offer that was lower than expected? How would you approach the employer when requesting to negotiate the offer? Do you have any fears with asking for a raise or higher pay?

The consistency concept : The consistency concept:

Identify the key criticisms leveled by arrow and calkins : Identify the key criticisms leveled by Arrow and Calkins & Wight against Friedman's position as represented by his NY Times article. Identify the criticism that seems to you to be the most telling against Friedman. Can you defend Friedman against tha..

An accumulated depreciation account : An accumulated depreciation account

User Account

All Pages