Reference no: EM132676194
The shareholders' equity of Core Technologies Company on June 30, 2020, included the following:
Common stock, $1 par; authorized, 7 million shares;
issued and outstanding, 3 million shares $3,000,000 Paid-in capital-excess of par 12,000,000 Retained earnings 10,000,000
On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $24 on April 1, 2021, and $34 on June 1, 2021.
Required:
Problem 1: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend.
Number of outstanding shares:
Stock dividend percentage:
Number of shares to be issued:
Value of Stock Dividend
General Journal
Record the declaration of the stock dividend.; April 01, 2021
Record the distribution of the stock dividend. June 01, 2021
|
Determine book value of the investment in bonds on december
: Determine the book value of the investment in bonds on December 31, 2020. On January 1, 2020, the Maxell Company purchased P400,00 of 6% term bonds.
|
|
Identify that the essay is a discussion on external auditors
: Identify that the essay is a discussion on the importance of external auditors' independence and professional scepticism in planning and performing an audit.
|
|
Record the distribution of the stock dividend june
: Record the distribution of the stock dividend. June 01, 2021. The shareholders' equity of Core Technologies Company on June 30, 2020
|
|
Creating an outline is critical to your success
: Strong oral communication skills will be valuable to you throughout your academic journey. They are in high demand by many employers.
|
|
Record the distribution of the stock dividend june
: Record the distribution of the stock dividend. June 01, 2021. The shareholders' equity of Core Technologies Company on June 30, 2020
|
|
How do determine what amount should be reported as liability
: Determine What amount should be reported as liability for coupons on December 31, 2017? Quaker Company distributed coupons to promote new products.
|
|
Films each provided unique insight and perspective
: The films each provided unique insight and perspective on the people groups they discussed.
|
|
What is the total interest for the entire 40 years
: You get a 40-year $180,000 mortgage loan, with monthly payments of $1,184.53. What is the total interest for the entire 40 years?
|
|
Estimate the carrying value of the bonds on december
: The bonds are dated July 1, 20x6 and mature on July 1, 20x19. Determine the carrying value of the Bonds on December 31, 20x6
|