+1835 731 5494 Email: instantessays65@gmail.com

amounts debited to Stock Dividends

$12.99

amounts debited to Stock Dividends 1. On December 31, 2013, Stock, Inc. has 3,000 shares of 6% $100 par value cumulative preferred stock and 45,000 shares of $10 par value common stock outstanding. On December 31, 2013, the directors declare a $15,000 cash dividend. The entry to record the declaration of the dividend would include: a. a credit of $3,000 to Cash Dividends. b. a note in the financial statements that dividends of $3 per share are in arrears on preferred stock for 2012. c. a debit of $15,000 to Common Stock. d. a credit of $15,000 to Dividends Payable. 2. Saint, Inc. declares a 10% common stock dividend when it has 30,000 shares of $10 par value common stock outstanding. If the market value of $24 per share is used, the amounts debited to Stock Dividends and credited to Paid-in Capital in Excess of Par are: Paid-in Capital in Stock Dividends Excess of Par a. $30,000 $0 b. $72,000 $42,000 c. $72,000 $30,000 d. $30,000 $42,000 3. Cloud Manufacturing declared a 10% stock dividend when it had 350,000 shares of $3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to a. Stock Dividends for $105,000. b. Paid-in Capital in Excess of Par for $315,000. c. Common Stock for $105,000. d. Common Stock Dividends Distributable for $420,000. 4. The following selected amounts are available for Clark Company. Retained earnings (beginning) $800 Net loss 150 Cash dividends declared 100 Stock dividends declared 100 What is its ending retained earnings balance? a. $650 b. $700 c. $450 d. $600 5. Car and Auto Sisters had retained earnings of $15,000 on the balance sheet but disclosed in the footnotes that $3,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends? a. $11,000 b. $12,000 c. $15,000 d. $9,000 Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

Reviews

There are no reviews yet.

Be the first to review “amounts debited to Stock Dividends”

Your email address will not be published. Required fields are marked *