Ch. 13 study guide

Ch. 13 study guide - **Watch out for no previous treasury...

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Ch. 13 Study Guide Lost Bikings Corp issued 300 shares of $10 par value common stock for $4,100 Corp issued 600 of no par common stock for $10,200 No Stated Value Stated Value of $2 per share Lump Sum Purchase Primal Rage Corp issued 300 shares of $10 pare value common stock and 100 shares of $50 par value preferred stock for a lump sum of $14,200. Common stock market value $20 per share; Preferred stock market value $90 per share. Record Issuance. Treasury Stock Maverick Inc has outstanding 10,000 shares of $10 par value common stock. On July 1, 2008, Maverick reacquired 100 shares at $85 per share. On Sept. 1, 2009 Maverick reissued 60 shares at $90 per share. On Nov. 1, Maverick reissued 40 shares at $83 per share. Prepare entries using cost method.
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Unformatted text preview: **Watch out for no previous treasury stock it would go to Retained Earnings Cash Dividend Micor declared a cash dividend of $1,50 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stock holders of record on Aug. 15. Property Dividend Available for sale securities cost $875,000. On sept 21. 2008 market value was $1,400,000. Securities distributed on Oct. 23 to stokeholders of record on Oct. 8. Stock Dividend Mike has outstanding 200,000 shares of $10 par value common stock. The cop declares a 5% stock dividend when the fair market value of the stock is $65 per share. Prepare entries for declaration and distribution. 5% stock dividend 100% stock dividend...
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Ch. 13 study guide - **Watch out for no previous treasury...

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