How much common stock does the tenth corporation have?

The Tenth Corporation had 1,000,000 authorized shares of $.05 common stock on October 10. 400,000 shares of the stock were outstanding on October 10. On October 10, the Tenth Corporation declared common stock cash dividends of $.50 per share.

When did the Allen Corporation declare a dividend?

To illustrate how these three dates relate to an actual situation, assume the board of directors of the Allen Corporation declared a cash dividend on May 5, (date of declaration). The cash dividend declared is $1.25 per share to stockholders of record on July 1, (date of record), payable on July 10, (date of payment).

How are cash dividends calculated for a company?

The key to this problem is to recognize that cash dividends are based on the number of shares outstanding and the dividends declared per share. Since the company declared dividends of $.50 per share and had 400,000 shares outstanding, it declared total cash dividends of $200,000.

How much does fifth corporation pay in dividends?

The Fifth Corporation pays annual cash dividends of $.80 per share to its common stockholders. Calculate the corporation’s cash payments for dividends on common stock if it has 20,000,000 shares authorized, $.05 par value per share, 1,000,000 shares outstanding.

What is the market value of Manning company common stock?

Manning Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share and 15,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock?

When did the seventh Corporation issue common stock?

On July 7, the Seventh Corporation issued 500 shares of $.02 par common stock and received $6,000. Show the effects of this transaction on the company’s assets, liabilities, and stockholders’ equity. The key to this problem is to recognize that owners’ investments are sources of corporate resources.

How many shares of common stock does Berry Corporation have?

Berry Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2010, the first year of the corporation’s existence: Sold 5,000 shares of common stock for $18 per share. Issued 5,000 shares of common stock in exchange for a patent valued at $100,000. a. $40,000.

When did the eighth Corporation issue common stock?

On August 8, the Eighth Corporation issued 200 shares of $.10 par common stock and received $1,600. Prepare the journal entry needed to account for this information.

How many shares of common stock can a second Corporation issue?

2. The Second Corporation is authorized to issue a total of 10,000 shares of $.10 par value common stock. Calculate the price per share the corporation must receive in order to raise $80,000 by issuing 10,000 common shares to the public.

How much does it cost to issue 10, 000 shares?

Since the company wants to receive $80,000 when it issues the 10,000 shares, it must receive $8 per share for the shares. 10,000 shares x market price per share = $80,000 cash. Market price per share = $80,000 cash / 10,000 shares = $8 per share. See text exercise 12.2 for similar material.