The stockholders equity accounts of G.K. Chesterton Company have the following balances on December 31, 2014. Shares
Question:
The stockholders’ equity accounts of G.K. Chesterton Company have the following balances on December 31, 2014.
Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37.
Instructions
Prepare the appropriate journal entries for each of the following cases.
(a) A stock dividend of 5% is declared and issued.
(b) A stock dividend of 100% is declared and issued.
(c) A 2-for-1 stock split is declared and issued.
Step by Step Answer:
Answer a A stock dividend of 5 is declared and issued The total number of shares outstanding before the stock dividend is 300000 A 5 stock dividend me...View the full answer
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
The stockholders equity accounts of G.K. Chesterton Company have the following balances on December 31, 2008. Common stock, $10 par, 300,000 shares issued and outstanding ... $3,000,000 Paid-in...
-
The stockholders equity accounts of G.K. Chesterton Company have the following balances on December 31, 2020. Common stock, $10 par, 300,000 shares issued and outstanding...........$3,000,000 Paid-in...
-
The stockholders equity accounts of G.K. Chesterton Company have the following balances on December 31, 2014. Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital...
-
The following are comparative financial statements of the Cohen Company for 2006, 2007, and 2008: Additional information: Credit sales were 65% of net sales in 2007 and 60% in 2008. At the beginning...
-
Why should a firm be concerned with employee burnout?
-
Chadwick Industries has several manufacturing facilities that make a wide variety of industrial and consumer products. Two of the plants, River North and River South, make components for road...
-
Which of the following is an activity not usually associated with forensic accounting and fraud examination consulting and litigation support? 1. A. Assessing fraud risk associated with internal...
-
County Hospital orders syringes from a hospital supply firm. The hospital expects to use 40,000 per year. The cost to order and have the syringes delivered is $800. The annual carrying cost is $1.90...
-
Problem 1: JIT Setup Cost and Time Suppose that Roger, a production manager, is trying to run JIT. The product Annual Demand is 300,000 units, with 250 working days in a year, which means daily...
-
The following events apply to Lewis and Harper, a public accounting firm, for the 2018 accounting period: 1. Performed $70,000 of services for clients on account. 2. Performed $40,000 of services for...
-
Lotoya Davis Corporation has 10 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 80 cents per share cash dividend to stockholders of record as of June...
-
The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013. Current assets $540,000 Debt investments 624,000 Common stock (par value $10) 500,000...
-
What are the assumptions about responsibility to stakeholders from the conventional and the Sustainable OB perspectives?
-
Janet Smith transferred, in trust, $500,000 of Georgia Power Bonds to her younger sister, Bertha Jones. These bonds pay interest quarterly, and Janet reserved the income for her life. Janet was age...
-
Diane Parker acquired an interest in a movie theater in June 2007. The theater broke even from 2007 to 2014. Parker did not actively participate in the activity during those years. She participated...
-
Dave Eichoff had adjusted gross income for 2019 of $122,000 before any passive losses or other rental activities. He owned a mountain cabin in Idaho, which he rented for 125 days and which was not...
-
Mary Beth is a CPA, devoting 3,000 hours per year to her practice. She also owns an office building in which she rents out space to tenants. She devotes none of her time to the management of the...
-
John and Mary Hughes file their income tax return on a calendar year basis. John dies on May 15, 2018. Mary remarries on July 4, 2019. Can Mary file a joint return with John for the taxable year 2019?
-
Find the first three iterations obtained by the Power method applied to the following matrices. a. Use x(0) = (1, 2, 1)t. b. Use x(0) = (1, 1, 0, 1)t. c. Use x(0) = (1, 1, 0,3)t. d. Use x(0) = (0, 0,...
-
Explain the operation of the dividends received deduction.
-
King Company is contemplating the purchase of a smaller company, which is a distributor of Kings products. Top management of King is convinced that the acquisition will result in significant...
-
The financial statements of Marks and Spencer plc (M&S) are available at the books companion website or can be accessed at corporate....
-
Access the glossary (Master Glossary) to answer the following. (a) What are trading securities? (b) What is the definition of holding gain or loss? (c) What is a cash flow hedge? (d) What is a fair...
-
You've collected samples of 12 oz. cups of coffee from both Starbucks and Dunkin Donuts. Assume the caffeine content in coffee is normally distributed in the population. Here is the caffeine content...
-
5. This question is about the following A-calculus term: (Ax. Ay. x x y) (Ax. x) a I (a) (1 point) What variables are free variables in the above term? (b) (3 points) Reduce the term to normal form...
-
For the given graph (represented by means of Adjacency Matrix) find the Reachability Matrix using a) RAVA V. V An b) Warshall's Algorithm 1 0 0010 A = 0000 1 1 1 0
Study smarter with the SolutionInn App