Elm Corporation secured authorization from the state for 200,000 shares of $10 par value common stock. It has 80,000 shares issued and 70,000 shares outstanding. On June 5, the board of directors declared a $0.25 per share cash dividend to be paid on June 25 to stockholders of record on June 15. Prepare journal entries to record these events.
Answer to relevant QuestionsNova Corporation has 500,000 authorized shares of $1 par value common stock, of which 200,000 are issued, including 20,000 shares of treasury stock. On October 15, the corporation’s board of directors declared a cash ...Blue Moon Company is authorized to issue 100,000 shares of common stock. On August 1, the company issued 5,000 shares at $25 per share. Prepare journal entries to record the issuance of stock for cash under each of the ...The stockholders’ equity section of Ruff Corporation’s balance sheet on December 31, 2011, follows.Contributed capitalCommon stock, $2 par value, 250,000 shares authorized, 200,000 shares issued and outstanding ...Morris Corporation had the following stock outstanding from 2010 through 2013:Preferred stock: $100 par value, 8 percent cumulative, 5,000 shares authorized, issued, and outstandingCommon stock: $10 par value, 100,000 shares ...In 2011, Mira Corporation had year-end assets of $825,000, sales of $1,185,000, net income of $135,000, net cash flows from operating activities of $270,000, purchases of plant assets of $180,000, and sales of plant assets ...
Post your question