215. Dynasty Corporation had stockholders’ equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 400,000 shares issued; Paid-in Capital in Excess of Par Value, Common Stock, $800,000; Retained Earnings, $3,600,000. Prepare journal entries to record the following transactions:
Feb. 15
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The board of directors declared a 5% stock dividend to stockholders of record on
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March 1, to be issued on March 20. The stock was trading at $7per share prior to the dividend
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Mar. 1
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The date of record.
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Mar. 20
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Issued the stock dividend.
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216. A corporation had stockholders’ equity on January 1 as follows: Common Stock, $1 par value, 1,500,000 shares authorized, 600,000 shares issued; Paid-in Capital in Excess of Par Value, Common Stock, $1,100,000; Retained Earnings, $2,300,000. Prepare journal entries to record the following transactions:
Feb. 15
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The board of directors declared a 10% stock dividend to stockholders of record on
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March 1,to be issued on April15.The stock was trading at $12 per share prior to the dividend.
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Mar. 31
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Sold 100,000 shares of common stock for $13 per share.
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Apr. 15
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Issued the stock dividend.
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217. A company had the following stockholders’ equity on January 1:
Common Stock – $1 par value; 1,000,000 shares authorized,
350,000 shares issued and outstanding …………………….
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$ 350,000
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Paid-in capital in excess of par value, common stock ……....
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700,000
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Retained earnings ……………………………………………
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364,000
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Total stockholders’ equity ……………………………………
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$1,414,000
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On January 10, the company declared a 40% stock dividend to stockholders of record on January 25, to be distributed January 31. The market value of the stock on January 10 prior to the dividend was $20 per share. What is the book value per common share on February 1?