The journal entry to record a stock split effected in the form of dividends may include which of the following? (Select all that apply.) Multiple select question. credit to common stock debit to common stock credit to paid-in-capital debit to retained earnings debit to paid-in-capita
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credit to common stock
debit to common stock
credit to paid-in-capital
debit to retained earnings
debit to paid-in-capita
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- Name the two main components of stockholders; equity. Describe the main sources of change in each component.Describe the accounting entry for a stock dividend, if any.Describe the accounting entry for a stock split, if any.When a stock dividend is declared, which of the following accounts is credited? O a. Common Sock O b. Dividend Payable O c. Stock Dividends Distributable O d. Retained Earnings
- Which of the following balance sheet accounts will be affected by a stock dividend but not by a stock split? A. Common stock B. Dividends-in-arrears C. Cash D. Retained earningsSteve Osbourne is considering opening a business, but the major decision faced is how to organize the business. Steve anticipates generating a massive profit during the first year and that the following years should be relatively profitable. Although he has enough to start the business now as a partnership, he believes cash flow may be an issue as the company grows. Steve believes that the corporate form of operation will be his best option and have hired you as a consultant and seek your advice. 1. The company is desirous of comparing several financial transactions and possible outcomes to assist in guiding its decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osbourne Corporation. The company's charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. Prepare the company's journal entries and statement of owner's equity. Based on the following information: Issued 45,500…Identify the account(s) needed to enter the transaction. Indicate whether entry is debit (DR) or credit (CR). 1. Declared stock dividend based on market price or lower than par ______________ 2. Distribution of no.1 stock dividends. _______________ 3.Cash sale of bond between interest date _______________ 4. Payment of interest on No. 3 above. _______________
- The entry to record common stock issued at its par value includes a: A. credit to Cash B. debit to Retained Earnings C. credit to the Common Stock account D. debit to Paid-in Capital in Excess of Par Value-Commonwhich of the following is a temporary account? -preferred stock -dividends -retained earningsQuestion Content Area Which of the following entries journalizes the issuance of common stock? a.debit Fees Earned; credit Common Stock b.debit Common Stock; credit Accounts Receivable c.debit Cash; credit Common Stock d.debit Dividends; credit Cash
- The journal entry to record the sale of treasury stock might include a.a credit to Treasury Stock. b.a credit to Paid-In Capital from Sale of Treasury Stock. c.a debit to Paid-In Capital from Sale of Treasury Stock. d.All of these choices are correct.Match each ratio that follows to its use. Items may be used more than once. Indicate the extent to which earnings are being distributed to common stockholders Indicate the ability to pay current liabilities Assess the profitability of the investment by common stockholders Assess how effectively assets are used Earnings per share (EPS) on common stock Return on common stockholders' equity Current ratio Dividends per share Asset turnover ratioIn a balance sheet, the total of common stock and retained earnings are denoted as Select one: a. Common Equity b. Due Equity c. Common Perpetuity d. Preferred equity
