Accounting Assignment help » Financial audit Assignment aid » affix Financial audit Chapter 11 Homework Assignment
Connect Financial bookkeeping Chapter 11 Homework AssignmentQ1. Prepare the newspaper entry to document Zende that company issuance the 82,000 share of $6 par value typical stock suspect the shares offer for: $6 cash per share. And $7 cash per share.
You are watching: The stockholders’ equity of tvx company at the beginning of the day on february 5 follows:
Q2. Epic Inc. Has 11,000 shares of $2 par value typical stock outstanding. Epos declares a 15% share dividend on July 1 as soon as the stock’s sector value is $18 every share. The stock dividend is distributed on July 20. Prepare newspaper entries because that (a) declaration and also (b) circulation of the share dividend.
Q3. Belkin Inc. Has 101,000 shares of $3 par value usual stock outstanding. Belkin declares a 41% share dividend on in march 2 when the stock’s market value is $73 per share. Prepare the newspaper entry because that declaration the the share dividend.
Q4. Stockholders’ same of Ernst agency consists of 81,000 share of $5 par value, 9% cumulative desired stock and also 285,000 shares of $1 par value usual stock. Both classes of stock have been outstanding due to the fact that the company’s inception. Ernst did no declare any type of dividends in the former year, but it now declares and also pays a $130,000 cash dividend in ~ the present year-end. Identify the amount dispersed to each class of stockholders for this two-year-old company.
Q5. On may 3, Zirbal Corporation purchase 4,000 shares of its own stock for $48,000 cash. ~ above November 4, Zirbal reissued 1,300 shares of this treasury stock because that $16,900. Prepare the may 3 and also November 4 newspaper entries to document Zirbal’s purchase and reissuance of treasury stock.
Q6. Epic firm earned net revenue of $744,500 this year. There were 410,000 weighted-average typical shares outstanding, and preferred shareholders obtained a $27,000 cash dividend. Epic firm earned net revenue of $744,500 this year. There were 410,000 weighted-average typical shares outstanding, and preferred shareholders received a $27,000 cash dividend.
Q7. Compute Topp this firm price-earnings proportion if its usual stock has actually a market value of $18.90 per share and its EPS is $3.60.Considering reduced deck, its an essential competitor, has a PE proportion of 9.5, which agency does the sector have greater expectations of future performance?
Q8. On June 30, sharper Corporation’s stockholders’ equity section of the balance sheet appears as complies with before any kind of stock dividend or split. Cheater declares and immediately distributes a 50% share dividend.
| Common stock—$10 par value, 120,000 shares authorized, 76,000 share issued and also outstanding | $ | 760,000 | |
| Paid-in funding in excess of par value, typical stock | 330,000 | ||
| Retained earnings | 725,000 | ||
| Total stockholders’ equity | $ | 1,815,000 |
Q9. ~ above June 30, trickster Corporation’s stockholders’ equity ar of the balance sheet shows up as adheres to before any type of stock dividend or split. Cheater declares and also immediately distributes a 50% stock dividend.
| Common stock—$10 par value, 120,000 share authorized, 76,000 share issued and outstanding | $ | 760,000 | |
| Paid-in capital in overabundance of par value, common stock | 330,000 | ||
| Retained earnings | 725,000 | ||
| Total stockholders’ equity | $ | 1,815,000 |
Assume that instead of distributing a share dividend, Sharper walk a 3-for-1 share split. Prepare the to update stockholders’ equity section after the split.
Compute the variety of shares outstanding after the split.
Q10. The stockholders’ equity of TVX agency at the beginning of the day on February 5 follows.
| Common stock—$25 par value, 150,000 sharesauthorized, 59,000 share issued and outstanding | $ | 1,475,000 | |
| Paid-in capital in overfill of par value, common stock | 425,000 | ||
| Retained earnings | 554,000 | ||
| Total stockholders’ equity | $ | 2,454,000 |
On February 5, the directors declare a 2% stock dividend distributable ~ above February 28 come the February 15 stockholders of record. The stock’s industry value is $31 every share ~ above February 5 before the share dividend. Prepare entries to record both the dividend declaration and its distribution.
Q11. The stockholders’ same of TVX firm at the start of the work on February 5 follows.
| Common stock—$25 par value, 150,000 sharesauthorized, 59,000 shares issued and also outstanding | $ | 1,475,000 | |
| Paid-in capital in overabundance of par value, typical stock | 425,000 | ||
| Retained earnings | 554,000 | ||
| Total stockholders’ equity | $ | 2,454,000 |
On February 5, the directors explain a 2% share dividend distributable ~ above February 28 to the February 15 shareholder of record. The stock’s market value is $31 per share ~ above February 5 prior to the stock dividend. Prepare the stockholders’ equity section after the share dividend is distributed. (Assume no other alters to equity.)
Q12. Alexander copy, group reports the following contents of stockholders’ same at December 31, 2018.
| Common stock—$25 par value, 70,000 shares authorized,49,000 shares issued and also outstanding | $ | 1,225,000 | |
| Paid-in funding in excess of par value, common stock | 98,000 | ||
| Retained earnings | 406,000 | ||
| Total stockholders’ equity | $ | 1,729,000 | |
During the year, the adhering to transactions affected its stockholders’ same accounts.
| Jan. | 2 | Purchased 4,900 shares of its own stock at $25 cash per share. | ||
| Jan. | 7 | Directors asserted a $1.50 per share cash dividend payable top top February 28 to the February 9 stockholders of record. | ||
| Feb. | 28 | Paid the dividend declared on January 7. | ||
| July | 9 | Sold 1,960 that its treasury shares at $30 cash per share. | ||
| Aug. | 27 | Sold 2,450 the its treasury shares at $20 cash every share. | ||
| Sept. | 9 | Directors asserted a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. | ||
| Oct. | 22 | Paid the dividend claimed on September 9. | ||
| Dec. | 31 | Closed the $71,000 credit balance (from network income) in the Income review account to maintained Earnings. |
Q13. The same sections for Atticus group at the start of the year (January 1) and also end that the year (December 31) follow.
| Stockholders’ same (January 1) | |||
| Common stock—$5 par value, 100,000 sharesauthorized, 40,000 shares issued and also outstanding | $ | 200,000 | |
| Paid-in capital in overabundance of par value, common stock | 160,000 | ||
| Retained earnings | 320,000 | ||
| Total stockholders’ equity | $ | 680,000 | |
| Stockholders’ equity (December 31) | ||||
| Common stock—$5 par value, 100,000 sharesauthorized, 47,400 share issued, 3,000 shares in treasury | $ | 237,000 | ||
| Paid-in funding in overfill of par value, typical stock | 211,800 | |||
| Retained revenue ($50,000 minimal by treasury stock) | 440,000 | |||
| 888,800 | ||||
| Less cost of treasury stock | (50,000 | ) | ||
| Total stockholders’ equity | $ | 838,800 |
The complying with transactions and events influenced its equity throughout the year.
| Jan. | 5 | Declared a $0.40 every share cash dividend, date of document January 10. | ||
| Mar. | 20 | Purchased treasury stock for cash. | ||
| Apr. | 5 | Declared a $0.40 per share cash dividend, day of document April 10. | ||
| July | 5 | Declared a $0.40 every share cash dividend, date of document July 10. | ||
| July | 31 | Declared a 20% stock dividend when the stock’s market value to be $12 every share. | ||
| Aug. | 14 | Issued the stock dividend the was declared on July 31. | ||
| Oct. See more: Blessed Messiah And The Tower Of Ai Lyrics, Vocaloid English Lyrics | 5 | Declared a $0.40 every share cash dividend, date of record October 10. |
How many typical shares are impressive on every cash dividend date?
What is the full dollar amount for each the the four cash dividends?
What is the total dollar amount because that each the the 4 cash dividends?
What is the every share expense of the treasury stock purchased? (Round her answer come 2 decimal places.)