On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend...
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On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $17 on June 13. Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete the below table to calculate the stock dividend. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued % Value of stock dividend On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 50 million, $10.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $26 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. What is the par per share after the split? Complete this question by entering your answers in the tabs below. General Journal Par value Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth. Comparative Balance Sheets ($ in thousands) December 31 2021 2020 Assets: Cash $ 113 $ 82 Accounts receivable 205 225 Short-term investments 92 82 Inventory 410 266 Property, plant, and equipment (net) 1,020 865 $1,840 $1,520 Liabilities and Shareholders' Equity: Current liabilities $ 450 $ 315 Bonds payable 265 265 Paid-in capital 715 715 Retained earnings 410 225 $1,840 $1,520 Required: 1. Determine the return on shareholders' equity for 2021. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Return on shareholders' equity 18.79 % Check my work The long-term liability section of Eastern Post Corporation's balance sheet as of December 31, 2020, included 9% bonds having a face amount of $46.4 million and a remaining premium of $7.6 million. On January 1, 2021, Eastern Post retired some of the bonds before their scheduled maturity. Required: Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances below: 1. Eastern Post called half the bonds at the call price of 102 (102% of face amount). 2. Eastern Post repurchased $11.6 million of the bonds on the open market at their market price of $12.1 million. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the entry for redemption of the bonds assuming Eastern Post called half the bonds at the call price of 102 (102% of face amount). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the redemption of the bonds. Note: Enter debits before credits
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