Journalize the declaration of a stock dividend on december

Assignment Help Financial Accounting
Reference no: EM132962909

On January 1, 2020, Ivanhoe Corporation had $1,010,000 of common stock outstanding that was issued at par. It also had retained earnings of $747,000. The company issued 37,500 shares of common stock at par on July 1 and earned net income of $405,000 for the year.

Problem 1: Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

a. Par value is $10, and market price is $18.

b. Par value is $5, and market price is $21.

Reference no: EM132962909

Questions Cloud

Role of health sector in recent pandemic of covid-19 : Healthy people constitute a nation's wealth. It is of utmost importance that people remain healthy in a country. Health and energy required to work are basic pr
What amount of cash flows from financing activities reported : What amount of cash flows from financing activities will be reported on the statement of cash flows? Sheffield Corp. issued 21200 shares of $1 par common stock
Evaluate the pros and cons of requiring couples : Evaluate the pros and cons of requiring couples to pay for these sorts of psychoeducation programs. Justify your rationale.
How will customers benefit over time : Walmart offers amazing programming for its employees (educational, assistance, give back, etc.). What do you think is the strategy behind helping and enhancing
Journalize the declaration of a stock dividend on december : Journalize the declaration of a 14% stock dividend on December 10, 2020, for the Par value is $10, and market price is $18 independent assumptions.
Conceptual framework of employee retention in australia : What is the conceptual framework of employee retention in Australia?
Importance of organizational policies and procedures : Explain and justify the importance of following organizational policies and procedures, including lines of authority and approvals, record keeping and reporting
What will the effective annual rate be : If the annual percentage rate is 12 percent based on 6 percent interest charged every six months, what will the effective annual rate be?
What are the most effective methods for communication : What are the most effective methods for communication?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd