Concord Corporation issues 4,250 shares of $110 par value preferred stock for cash at $145 per...

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Concord Corporation issues 4,250 shares of $110 par value preferred stock for cash at $145 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit The stockholders' equity section of Tamarisk, Inc. consists of common stock ($10 par) $2,070,000 and retained earnings $565,000. A 10% stock dividend (20,700 shares) is declared when the market price per share is $15. Show the before-and-after effects of the dividend on the following. (a) The components of stockholders' equity. (b) Shares outstanding. (c) Par value per share. Stockholders' equity $ Outstanding shares Par value per share $ Before Dividend LA After Dividend For the year ending December 31, 2020, Whispering Winds Corp. reports net income $140,000 and cash dividends $86,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2020, was $232,000. (List items that increase retained earnings first.) Whispering Winds Corp. Retained Earnings Statement ← LA Concord Corporation issues 4,250 shares of $110 par value preferred stock for cash at $145 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit The stockholders' equity section of Tamarisk, Inc. consists of common stock ($10 par) $2,070,000 and retained earnings $565,000. A 10% stock dividend (20,700 shares) is declared when the market price per share is $15. Show the before-and-after effects of the dividend on the following. (a) The components of stockholders' equity. (b) Shares outstanding. (c) Par value per share. Stockholders' equity $ Outstanding shares Par value per share $ Before Dividend LA After Dividend For the year ending December 31, 2020, Whispering Winds Corp. reports net income $140,000 and cash dividends $86,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2020, was $232,000. (List items that increase retained earnings first.) Whispering Winds Corp. Retained Earnings Statement ← LA

Answer rating: 100% (QA)

Journal Entries and Analysis 1 Issuance of Preferred Stock Account Titles and Exp... View the full answer