Corporations pay only state income tax. It is usually done in addition to a cash dividend, not in place of it. As of December 31,2017 December 31,2016 What happens if no-par value stock does not have a stated value? B) Dividends Payable-Common is debited for $9,000. 17 Cash ($12 per share x 400 shares) 4,800 While recording business transactions, remember that the foundation of the accounting process is the following basic accounting equation: (2.4.1) Assets = Liabilities + Stockholders'Equity. total paid-in capital of $4,600,000. in a partnership, the acts of the owners bind the partnership, but in a corporation, the acts of the owners do not bind the partnership unless they are also an agent of the corporation. Refer to the Five-Year Summary of Financial and Operating Results in Appendix B to answer the question below. Assume that Park Place sells 1,500 shares of treasury stock at $33 per share. By what amount will Universe decrease stockholders' equity for the dividend? $18,000 This is the best choice based on the information available. The following factors, among others, could cause our actual . Effective April 27, year 2, the stockholders of Bennett Corporation approved a twoforone split of the company's common stock, and an increase in authorized common shares from 100,000 shares (par value $20 per share) to 200,000 shares (par value $10 per share). Common stock (20,000 x $19 ) $380,000 D Earnings Per Share = Net Income / Average Number of Common Shares Outstanding Earnings Per Share = $425,500 / 244,816.00 = $1.74 The payment must be approved by the Board of Directors. D) The dividend is allocated $235,200 to preferred stockholders and $55,200 to common stockholders. Dividend per share $0.25 in a partnership, the life of the company is perpetual, but in a corporation, the life of the company is limited to a specific number of years. Prior to the split, Alto had 10,000 shares of $10 par value common stock issued and outstanding. Common Stock, $14 Par, 129,000 shares authorized,48,000 shares issued and outstanding $672,000 Total equity after the sale of stock $7,039,500. Preferred Stock, $100 par $270,000 B : $0.50 Show your computations.) Word. The adjustments to the misstatements that propose by auditors have sometimes affected the entitys financial statements opening balance including retained earnings. No effect No effect No effect Total Liabilities and 5-Payout.pptx - Payout 1 What is Payout Policy Payout Preferred Stock, $100 par $390,000 On July 1, 2017, the company declared and distributed a 11% stock dividend. Retained Earnings 500,000 The date of record is November 15, and the payment date is November 30, 2017. No journal entry is made on the date of record. Retained Earnings 4,790,000 A D Total Stockholder's Equity $6,990,000 D . A) cash dividend declared $320,000 Net Income $358,000 $425,500 (Round your answer to the nearest cent.) How would the declaration of a 15% stock dividend by a corporation affect each of the following? D) debit to Dividends Payable for $4,625, debit to Dividends Payable for $4,625 Common Stock (7,000 x 9 ) 63,000 Paid-In Capital in Excess of Par-Preferred 25,000 average common -Issued 1,800 shares of $160 par value preferred stock at par. (Round answers to the nearest dollar.) C) liabilities decrease Oster, Inc. has 23,000 shares of common stock outstanding and no preferred stock. the board of directors has no control over the market value of par value common stock. On December 20, Madison declared the annual cash dividend on its 8% preferred stock (par value, $150,000 ) and a $0.50 per share cash dividend on its common stock (45,000 shares).
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