ACTG 210 Lecture Notes - Lecture 12: Stock Split, Financial Statement, Retained Earnings
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Match the items below by entering the appropriate answer letter choice from the column provided on the right.
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1. The effect of a stock dividend is to
Question 17 options:
change the composition of stockholders' equity. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase the book value per share of common stock. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease total assets and stockholders' equity. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease total assets and total liabilities 2. Regular dividends are declared out of:
3. Solaris, Inc. has 2,000 shares of 5%, $10 par value,cumulative preferred stock and 50,000 shares of $1 par value commonstock outstanding at December 31, 2014. What is the annual dividendon the preferred stock? Question 20 options:
Identify the effect the declaration and distribution of a stockdividend has on the par value per share. Question 24 options:
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Selected transactions completed by Canyon Ferry BoatingCorporation during the current fiscal year are as follows:
Jan. | 8 | Split the common stock The stock outstanding when a corporation has issued only oneclass of stock. 2 for 1 and reduced the parThe monetary amount printed on a stock certificate. from $80 to $40 per share. After the split, there were 171,000common shares outstanding. |
Apr. | 30 | Declared semiannual dividends of $0.70 on 16,000 shares ofpreferred stock A class of stock with preferential rights over common stock. and $0.21 on the common stock payable on July 1. |
Jul. | 1 | Paid the cash dividends A cash distribution of earnings by a corporation to itsshareholders. . |
Oct. | 31 | Declared semiannual dividends of $0.70 on the preferred stockand $0.16 on the common stock (before the stock dividend A distribution of shares of stock to a corporationâsstockholders. ). In addition, a 2% common stock dividend was declared on thecommon stock outstanding. The fair market value of the common stockis estimated at $54. |
Dec. | 31 | Paid the cash dividends and issued the certificates for thecommon stock dividend. |
Journalize the transactions. If no entry is required, simplyskip to the next transaction. Refer to the Chart of Accounts forexact wording of account titles.
CHART OF ACCOUNTS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canyon Ferry Boating Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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