Thomas Nelson, Inc., is a publisher of Bibles and other religious materials. Thomas Nelson, Inc., had the
Question:
Thomas Nelson, Inc., is a publisher of Bibles and other religious materials. Thomas Nelson, Inc., had the following statement of stockholders' equity for the fiscal year ended March 31, 2004:
a. What is the par value of the common stock? Round to the nearest dollar.
b. How much did employees pay per share for common stock under the option plan?
Round to the nearest cent.
c. Record the entry for the common stock issuance under the option plan.
d. Record the summary entry for the dividends declared during the year.
e. Does the dividend seemsustainable?
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
Thomas Nelson, Inc. Statement of Stockholders' Equity For the Fiscal Year Ended March 31, 2004 (in thousands, except per-share data) Class B Additional Paid-In Capital $44,064 Retained Earnings $29,385 87,824 Common Common Stock Stock Total Balance at March 31, 2003 Net and comprehensive $13,350 1,025 income 16,165 16,165 Class B stock converted to common 62 (62) Common stock issued: Option plans-90,823 common shares Dividends declared- $0.12 per share 91 633 724 (1.731) $43,819 $102,982 Balance at March 31, 2004 13,503 963 $44,697
Step by Step Answer:
a b c Cash 724000 Common Stock 90823 PaidIn Capital in Excess of ParCommon Stock 633177 d Retained E...View the full answer
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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Stocks (also known as equities) are securities that represent ownership in a company. They are issued by companies to raise capital, and when an individual buys stocks, they become a shareholder in that company. Investing in stocks can be a way for individuals to potentially earn a return on their investment through dividends and capital appreciation. However, investing in stocks also carries a level of risk, as the value of the stock can fluctuate based on various factors such as the financial performance of the company and general market conditions. For companies, issuing stocks can be a way to raise funds for growth and expansion. When a company goes public by issuing an initial public offering (IPO), it can raise significant capital by selling ownership stakes to the public. Companies can also issue additional stock offerings to raise additional capital as needed.
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