Question: what would be the answer to thos quest need help asap Fallingstar, Inc. has 110,000 shares of common stock issued and outstanding, with a par

what would be the answer to thos quest need help asap

Fallingstar, Inc. has 110,000 shares of common stock issued and outstanding, with a par value of $0.03 per share. It declared a 17% common stock dividend market value is $14 per share. Which of the following is the correct journal entry to record the transaction? (Round your answers to the nearest whole dollar) Odebit Stock Dividends $261,800 and credit Cash $261,800 Odebit Stock Dividends $261,800, credit Common Stock Dividend Distributable $561, and credit Paid-In Capital in Excess of Par-Common $261,239 Odebit Common Stock Dividend Distributable $561, debit Paid-in Capital ig Excess of Par-Common $261,239, and credit Retained Eamings $281.800 Odebit Stock Dividends $261,800 and credit Paid-In Capital in Excess of Par-Common $261.800

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Tony has decided to end the Precision Computer Centres first year as of July 31, 2019. Below is an updated chart of accounts. Assignment (Use the Excel templates in MyAccountingLab to complete this...

LO2, 3, 4 AUTOZONE INC. E 11.21. Analyze. Forecast, and Interpret Income Statement and Balance Sheet Following are the income statements and balance sheets of AutoZone Inc. AUTOZONE INC. Consolidated...

Find the market ratios for the company for the last 1-3 years and its major competitor for the last year in the Internet. * Price/Earnings ratio * Market/Book ratio (also called (Price/Book ratio) *...

Hi! I need help for this assignment, please let me know if WEEK 6 WILEYCPA Ownership of 51% of the outstanding voting stock of a company would usually result in The use of the cost method. The use of...

1. Compute the year-to-year percentage change in "diluted-income from continuing operations" for each of the five years. 1a. Do the earnings appear volatile? 2. Compute the ratio of long term debt to...

Please workexercise 2-6 thru 2-12, chapter 2 pages and work template attached. CHAPTER 2 THE FINANCIAL STATEMENTS CHAPTER LEARNING OBJECTIVES Upon completion of this chapter, you should be able to:...

Need the required for exercise2-5 thru 2-16 for year 2014 per provided information on attachement. CHAPTER 2 THE FINANCIAL STATEMENTS CHAPTER LEARNING OBJECTIVES Upon completion of this chapter, you...

I really need help with these problems. Can you assist? Prepare a stockholder's equity section of Waldemar corporation's balance sheet from the following acco SE4. balances on December31, 2014....

Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 APOLLO SHOES, INC. An Audit Case to Accompany AUDITING AND...

Chi-Squared Analysis A national survey of U.S. consumers conducted by the Wall Street Journal asked the question: "In general, how would you rate the service that American businesses provide?" The...

lead to an increase in assets and liabilities of company that 1 point are shown in the Statement of Financial Position. * Operating Lease Finance Lease Preference shares Bonus issues

From 2 0 0 0 to 2 0 1 0 , the state of Texas a . Gained only one seat.b . Stayed the same.c . Gained the most seats.d . Lost seats.

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...