The following account balancesappear on the balance sheet of Osgood Industries:
Common stock (300,000 sharesauthorized, $100par) : $10,000,000
Paid in capital excess of par-common stock: $2,000,000
Retained earnings:&45,000,000
The board of directors declareda 2% stock dividend when the market price of the stock was $135 ashare. Osgood reported no income or loss for the currentyear.
Required:
(1) jurnalize the entities torecord
A. The declaration of thedividend, capitalizing an amount equal to market value ;and
B. the issuance of stockcertificates
(2) determine the followingamounts before the stock dividend was declared:
A. Total paid incapital
B. total retained earnings;and
C. Total stockholdersequity
(3)determine the followingamounts after the stock dividend was declared and closing entrieswere recorded at the end of the year
A. Total paid incapital
B. total retained earnings ;and
C. Total stockholdersequity
Please show all work email meif needed [email protected]
The following account balancesappear on the balance sheet of Osgood Industries:
Common stock (300,000 sharesauthorized, $100par) : $10,000,000
Paid in capital excess of par-common stock: $2,000,000
Retained earnings:&45,000,000
The board of directors declareda 2% stock dividend when the market price of the stock was $135 ashare. Osgood reported no income or loss for the currentyear.
Required:
(1) jurnalize the entities torecord
A. The declaration of thedividend, capitalizing an amount equal to market value ;and
B. the issuance of stockcertificates
(2) determine the followingamounts before the stock dividend was declared:
A. Total paid incapital
B. total retained earnings;and
C. Total stockholdersequity
(3)determine the followingamounts after the stock dividend was declared and closing entrieswere recorded at the end of the year
A. Total paid incapital
B. total retained earnings ;and
C. Total stockholdersequity
Please show all work email meif needed [email protected]