Acct221

Question 1 of 10 -1 View Policies Current Attempt in Progress Crane Corporation has 40,000 shares of $10 par value comman stock outstanding, it declares a 15% stock dividend on December 1 when the market price per share is 516 The dividend shares are issued on December 31 Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered, Do not indent manually. If ne entry is required, select "No Entry\" for the account titles and enter O for the amounis.) Date Account Titles and Explanation Debit Credit w w 4 . - eTextbook and Media Assistance Used eTextbook Video Question 10 of 10 - /1 View Policies Current Attempt in Progress Sunland Inc issues $2,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2027. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 4 used Submit AnswerQuestion 2 of 10 - /1 View Policies Current Attempt in Progress For the year ending December 31, 2027, Vaughn Inc. reports net income $152,000 and cash dividends $91,000. Determine the balance in retained earnings at December 31, assuming the balance in retained earnings on January 1, 2027, was $226.000. Balance in retained earnings eTextbook and Media Save for Later Attempts: 0 of 4 used Submit AnswerQuestion 3 of 10 - /1 E View Policies Current Attempt in Progress SUPERVALU, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,500, net income $429, beginning common stockholders' equity $2.604. and ending common stockholders' equity $2 882. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.) Return on common stockholders' equity 96 eTextbook and Media Save for Later Attempts:0 of 4 used Submit AnswerQuestion 4 of 10 - 11 8 View Policies Current Attempt in Progress On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 23,000 additional shares of common stock for $16 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31. (a) Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit CreditThe following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%%, and it had 70,000 common shares outstanding during the entire year. (a) Prepare a corporate income statement. (List other revenues before other expenses.) SUNLAND CORPORATION Income Statement eTextbook and Media Save for Later Attempts: 0 of 4 used Submit AnswerIvanhoe Company issues $3,000,000, 10-year, 8%% bonds at 93, with interest payable each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2027. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 4 used Submit AnswerQuestion 7 of 10 - /18 View Policies Current Attempt in Progress Presented below are long-term liability items for Sunland Company at December 31, 2022. Bonds payable, due 2024 $675,000 Lease liability 70,000 Notes payable, due 2027 80,000 Discount on bonds payable 37.125 Prepare the long-term liabilities section of the balance sheet for Sunland Company. (Enter account name only and do not provide descriptive information.) Sunland Company Balance Sheet (Partial) $ $Question 8 of 10