Exercise 11-4 Stock issuance for noncash assets LO P1 Sudoku Company issues 34,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $234,000 and the building at $379,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list Journal entry worksheet 2. Assume that the company implements a 3-for-2 stock split instead of the stock dividend in part 1. a., b. & c. Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that the company implements a 3-for-2 stock split Instead of the stock dividend In required 1. Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares. Stock Split Before Stock Split Impact of Stock Split After Stock Split Common stock Paid in capital in excess of par value Total contributed capital Retained earnings Total stockholders' equity Number of common shares outstanding Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.] York's outstanding stock consists of 70,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 180,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. $ 2016 total cash dividends 2017 total cash dividends 9, 100 19,000 2018 total cash dividends 2019 total cash dividends $ 295,000 445,000 Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of P referred Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end $ 2016 2017 2018 9,100 19,000 295,000 $ 2016 total cash dividends 2017 total cash dividends 9,100 19,000 2018 total cash dividends 2019 total cash dividends $ 295,000 445,000 Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 : Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: ...................................................................... Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2016 2017 2018 9,100 19,000 295,000 445,000 768,100 2019 Totals $ Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 93,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 930,000 321,000 1,032,000 $ 2,283,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,100 shares of its own common stock at $46 per share on October 11. b. Sold 1,525 treasury shares on November 1 for $52 cash per share. c. Sold all remaining treasury shares on November 25 for $41 cash per share. View transaction list Journal entry worksheet
