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Cork distribute to the common stockholders

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Cork distribute to the common stockholders 1. On January 1, Sway Corporation had 60,000 shares of $10 par value common stock outstanding. On March 17, the company declared a 18% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a a. credit to Cash for $108,000. b. debit to Common Stock Dividends Distributable for $108,000. c. credit to Paid-in Capital in Excess of Par for $32,400. d. debit to Stock Dividends for $32,400. 2. On January 1, Soft Corporation had 80,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a a. debit to Stock Dividends for $180,000. b. credit to Cash for $180,000. c. credit to Common Stock Dividends Distributable for $180,000. d. credit to Common Stock Dividends Distributable for $60,000. 3. On January 1, Soft Corporation had 80,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a a. credit to Common Stock for $120,000. b. debit to Common Stock Dividends Distributable for $180,000. c. credit to Paid-in Capital in Excess of Par for $60,000. d. debit to Stock Dividends for $60,000. 4. Cork Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 7%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Cork distribute to the common stockholders? a. $76,000. b. $84,000. c. $118,000. d. None. 5. Land Inc. has retained earnings of $800,000 and total stockholders’ equity of $2,000,000. It has 200,000 shares of $5 par value common stock outstanding, which is currently selling for $30 per share. If Land declares a 10% stock dividend on its common stock: a. net income will decrease by $100,000. b. retained earnings will decrease by $100,000 and total stockholders’ equity will increase by $100,000. c. retained earnings will decrease by $600,000 and total stockholders’ equity will increase by $600,000. d. retained earnings will decrease by $600,000 and total paid-in capital will increase by $600,000. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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