Question: Please answer them all and show your work! Emma Systems, Inc. declared and issued a 12 percent stock dividend. The company has 720,000 shares authorized
Please answer them all and show your work!
Emma Systems, Inc. declared and issued a 12 percent stock dividend. The company has 720,000 shares authorized and 32,818 outstanding. The par value of the stock is $0.9 per share and the market value is $8 per share.
To record the stock dividend, the debit to Retained Earnings would be $____
this is wrong = 32818*.12=3938.16*8=31505
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Skyhawk Corporation charter authorized the following capital stock:
Preferred stock: 8 percent, par $11, authorized 10,000 shares.
Common stock: par $1.5, authorized 50,000 shares.
Since inception, Skyhawk sold 9,023 shares of the common stock at $6.2per share and 3,517 shares of the preferred stock at $16.
On the statement of stockholders' equity, Preferred Stock would be reported as $______
this is wrong = 3517*16 for 56272
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Evan Corporation charter authorized the following capital stock:
Preferred stock: 8 percent, par $11, authorized 10,000 shares.
Common stock: par $1.6, authorized 50,000 shares.
Since inception, Skyhawk sold 7,340 shares of the common stock at $6.7per share and 1,195 shares of the preferred stock at $18. The ending retained earnings was $71,312
On the statement of stockholders' equity, the total contributed capital would be reported as $_____
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Ava Consulting issued 1,140 shares of previously unissued common stock with a par value of $3 The selling price for the stock was $6 per share.
The credit to Common Stock would be $_________
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