Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 9.00

Journalizing a stock

Journalizing a stock dividend and reporting stockholders’ equity The stockholders’ equity of Pondside Occupational Therapy, Inc., on December 31,2011, follows:

STOCKHOLDERS’ EQUITY

Paid-in capital:

 

Common stock, $1 par, 1,250 shares authorized,

 

530 issued

$ 530

Paid–in capital in excess of par—common

2,120

Total paid-in capital

2,650

Retained earnings

121,000

Total stockholders’ equity

$ 123,650

On April 30, 2012, the market price of Pondside’s common stock was $11 per share and the company distributed a 10% stock dividend.

Requirements

1. Journalize the distribution of the stock dividend.

2. Prepare the stockholders’ equity section of the balance sheet after the stock dividend.

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 09:07 PM My Price 9.00

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