Mulligan Golf Corporation has 600,000 common shares outstanding. The corporation declares a 7% stock dividend when the shares’ fair value is $30 per share (their carrying value is $18 per share). Prepare the journal entries for the company for both the date of declaration and the date of distribution.
Answer to relevant QuestionsList the types of dividends. Why do companies or investors have a preference for one or the other? Hanover Corporation has 750,000 shares outstanding. The shares have an average cost of $45 per share. On September 5, the company repurchases 1,500 of its own shares at $75 per share and does not cancel them. The shares are ...Platinum Corporation issued 4,000 of its common shares for $66,000. The company also incurred $1,700 of costs associated with issuing the shares. Prepare the journal entry to record the issuance of the company’s shares. Brubacher Corporation’s post-closing trial balance at December 31, 2012, was as follows: At December 31, 2012, Brubacher had the following numbers for its common and preferred shares: The dividends on preferred shares ...Radford Corporation’s charter authorized 1 million shares of $11 par value common shares, and 300,000 shares of 6% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation ...
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