(Answered) On january 1 2010 deweese corporation had 1000000 of common

Accounting

On January 1, 2010, Deweese Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.

Instructions

Journalize the declaration of a 15% stock dividend on December 10, 2010, for the following independent assumptions.

1. Par value is $10, and market value is $18.

2. Par value is $5, and market value is $20.

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91890987
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Business report assignment - to complete it students will

Business Report Assignment - To complete it, students will be provided with an Australian publicly listed company where they will be required to conduct financial statement analysis. Task Information - You have randomly ...

Question - at the end of the year but before an adjustment

Question - At the end of the year, but before an adjustment had been made to close Manufacturing Overhead Control, A-1 Frames had the following account balances: Raw Materials Inventory$126,955Work in Process Inventory$1 ...

Question - pina colada corp reports the following for the

Question - Pina Colada Corp. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 122 $5 $610 June 12 Purchases 386 6 2,316 June 23 Purchases 186 7 1,302 June 30 Purch ...

Assignment - fraud prevention and detection planyou went

Assignment - Fraud Prevention and Detection Plan You went back to your corporate controllership position with Dingwow Inc. Senior Management has assigned you as the team lead to develop a fraud prevention and detection p ...

Question - the inouyes filed jointly in 2018 their agi is

Question - The Inouyes filed jointly in 2018. Their AGI is $78,000. They reported $2,000 of qualified business income and $22,000 of itemized deductions. They have two children, one of whom qualifies as their dependent a ...

Question - exter co receives terms of 210 n30 on all

Question - Exter Co. receives terms of 2/10, n/30 on all invoices from Garn Industries. On January 15, 2008, Exter purchased items from Garn for $4,200, excluding taxes and shipping costs. What amount would Exter use as ...

Question - x company makes two products a and b and uses an

Question - X Company makes two products, A and B, and uses an activity-based costing overhead allocation system, with three cost pools and three cost drivers. Budgeted costs and driver information for 2017 were as follow ...

Question -how much do i need to invest every month today in

Question - How much do I need to invest every month today in order to have a $1 million retirement fund in 35 years? Assume the interest rate of 5%, compounded daily. So you just won the lottery. What's a better deal $25 ...

Question - the blending department of luongo company has

Question - The Blending Department of Luongo Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 20% compl ...

Question - alpha corp had 15000 of dividends in arrears for

Question - Alpha Corp. had $15,000 of dividends in arrears, for cumulative, non-participating preferred stock as of January 1, 2018.This value of dividends in arrears was for the fiscal years of 2016 & 2017. During the f ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert