View Policies Current Attempt in Progress On January 1, 2026, Blossom Corp. had 463,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 Issued 118,000 shares March 1 Issued a 10% stock dividend May 1 June 1 Acquired 103,000 shares of treasury stock Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock (a) Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding eTextbook and Media

View Policies Current Attempt in Progress On January 1, 2026, Blossom Corp. had 463,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 Issued 118,000 shares March 1 Issued a 10% stock dividend May 1 June 1 Acquired 103,000 shares of treasury stock Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock (a) Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding eTextbook and Media

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and outstand ing $5 par common shares. During 2019, Fusion entered into the following transactions: Declared a S0.30 per-share cash dividend on March 10. Paid the $0.30 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $18 each on May 2. Sold 1.500 unissued common shares for $23 per share on June 9. Declared a $0.45 per-share cash dividend on August 10. Paid the $0.45 per-share dividend on September 10. Declared and paid a 5% stock dividend on October 15 when the market price of the common stock was $25 per share. Declared a $0.50 per-share cash dividend on November 10. Paid the $0.50 per-share dividend on December 10. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) Determine the total dollar amount of dividends (cash and stock) for the year. CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.
Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.
STOCK DIVIDENDS Kaufman Company currently has 200,000 shares of 1 par common stock outstanding. On March 15, a 10% stock dividend was declared to shareholders of record on April 2, distributable on April 14. Market value of the common stock was estimated at 5 per share. 1. Prepare journal entries for the declaration and distribution of the 10% common stock dividend. 2. Assume Kaufman Company declared a stock dividend of 30% rather than 10%. Prepare journal entries for the declaration and distribution of the 30% common stock dividend.
Preferred Dividends Eastern Inc.s equity includes 8%, $25 par preferred stock. There are 100,000 shares authorized and 45,000 shares outstanding. Assume that Eastern declares and pays preferred dividends quarterly. Required: Prepare the journal entry to record declaration of one quarterly dividend. Prepare the journal entry to record payment of the one quarterly dividend.
Common Dividends Thompson Payroll Service began in 2019 with 1,500,000 authorized and 820,000 issued and outstanding S8 par common shares. During 2019, Thompson entered into the following transactions: Declared a S0.20 per-share cash dividend on March 24. Paid the S0.20 per-share dividend on April 6. Repurchased 13,000 common shares for the treasury at a cost of S12 each on May 9. Sold 2,500 unissued common shares for $15 per share on June 19. Declared a $0.40 per-share cash dividend on August 1. Paid the $0.40 per-share dividend on September 14. Declared and paid a 10% stock dividend on October 25 when the market price of the common stock was $15 per share. Declared a 50.45 per-share cash dividend on November 20. Paid the $0.45 per-share dividend on December 20. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) What is the total dollar amount of dividends (cash and stock) for the year? CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.
Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
Nutritious Pet Food Companys board of directors declares a small stock dividend (20%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
View Policies Current Attempt in Progress On January 1, 2022, Wildhorse Co. purchased 1,400 shares of treasury stock. Other information regarding Wildhorse Co. is provided as follows. 2022 2021 Net income Dividends on preferred stock $210,000 $205,000 $ 25,000 $ 25,000 Dividends on common stock $ 26,000 $ 22,000 Weighted-average number of common shares outstanding 9,600 11,000 Common stockholders' equity beginning of year $661,000 $601,000 Common stockholders' equity end of year $741,000 $661,000 (a) Compute return on common stockholders' equity for each year. (Round return on common stockholders' to 1 decimal place, e.g. 10.5.) 2022 2021
ew PolicieS Current Attempt in Progress On January 1,2020, Larkspur Corporation had 66,500 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: ar. 1. Issued 21,000 shares of common stock for $535,000. Declared a cash dividend of$2per share to stockholders of record on June 15. July Paid the $2 cash dividend. Dec 1 Purchased 5,900 shares of common stock for the treasury for $23 per share, Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31. Prepare journal entries to record the above transactions. (If no entry is required, select No entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when armount is entered. Do not indent manually List all debit entries before credit entries, Record journal entries in the order presented in the problem) Date Account Titles and Explanation Credit e Textbook and Media List of…
View Policies Current Attempt in Progress Sunland Inc., has 1400 shares of 6%, $50 par value, cumulative preferred stock and 49146 shares of $1 par value common stock outstanding at December 31, 2020, and December 31, 2021. The board of directors declared and paid a $1500 dividend in 2020. In 2021, $9700 of dividends are declared and paid. What are the dividends received by the common stockholders in 2021? O $5700 O $4200 O $2800 O $1300 Save for Later Attempts: 0 of 1 used Submit Answer
View Policies Current Attempt in Progress On January 1, Swifty Corporation had 71000 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 $14 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O debit to Common Stock Dividends Distributable for $149100. O debit to Stock Dividends for $42600. O credit to Paid-in Capital in Excess of Par for $42600. O credit to Common Stock for $106500. Save for Later Attempts: 0 of 1 used Submit Answer