How many shares of no-par common stock did Metlock issue?
On June 1, Metlock, Inc. issues 2,850 shares of no-par common stock at a cash price of $9 per share. Journalize the issuance of the shares assuming the stock has a stated value of $2 per share.
How much common stock did Pilar issue for cash?
On May 10, Pilar Corporation issues 2,500 shares of $5 par value common stock for cash at $13 per share. Journalize the issuance of the stock. Cre. Common/Preferred Stock Cre. Additional Paid-in Capital-Common/Preferred (plug entry) Cre.
How many shares of no-par common stock did teal mountain issue?
On June 1, Teal Mountain Inc. issues 1,900 shares of no-par common stock at a cash price of $9 per share. Journalize the issuance of the shares.
How many shares of no par common stock does Bramble have?
On January 1, Bramble Corp. had 95,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred. Apr.1 Issued 24,500 additional shares of common stock for $16 per share.
When does Tamarisk pay dividends?
Is preferred stock noncumulative?
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When does Tamarisk pay dividends?
Tamarisk, Inc. has 77,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.
Is preferred stock noncumulative?
1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years.
What is the denominator of EPS?
The purchase of treasury stock reduces the number of shares outstanding, which is the denominator of EPS. With a smaller denominator, earnings per share is larger.
When should preferred dividends be distributed?
Before the common stockholders receive any dividends, preferred dividends should first be distributed for the dividends in arrears in the prior year and the current year.
Does journal entry increase cash account?
The journal entry will increase the cash account for the total issue price, increase the common stock account for the par value per share times the number of shares issued, and increase paid-in capital in excess of par value for the excess received above par value.
Does a stockholder have the right to vote?
explanation: A stockholder does not have the right to participate in management decisions simply because he owns stock. A stockholder has the right to maintain the same percentage of ownership as additional stock is issued, vote in the election for the board of directors, and receive dividends appropriate to their percentage of ownership.
When does Tamarisk pay dividends?
Tamarisk, Inc. has 77,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.
Is preferred stock noncumulative?
1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years.