159.The dates of importance in connection with a cash dividend of $50,000 on a corporation’s common stock are
January 15, February 15, and March 15. Journalize the entries required on each date.
160.Vincent Corporation has 100,000 shares of $100 par common stock outstanding. On June 30, Vincent Corporationdeclared a 5% stock dividend to be issued on July 30 to stockholders of record July 15. The market price of thestock was $132 a share on June 30. Journalize the entries required on June 30, July 15, and July 30.
161.Sabas Company has 40,000 shares of $100 par, 1% preferred stock and 100,000 shares of $50 par commonstock. The following amounts were distributed as dividends:
Year 1:
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$ 50,000
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Year 2:
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90,000
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Year 3:
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130,000
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Determine the dividends per share for preferred and common stock for each year.
162.Indicate whether the following actions would (+) increase, (–) decrease, or (0) not affect a company's total assets,liabilities, and stockholders' equity.
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Assets
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Liabilities
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Stockholders'
Equity
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(a)
(b)
(c)
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Declaring a cash dividend
Paying the cash dividend declared in (a)
Declaring a stock dividend
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(d)
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Issuing stock certificates for the stockdividend declared in (c)
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