Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer requirement 2, the bottom picture is are the options for each blank! Thanks:) The stockholders' equity for Blade, Inc. on December 31, 2017,

image text in transcribedimage text in transcribedPlease answer requirement 2, the bottom picture is are the options for each blank! Thanks:)

The stockholders' equity for Blade, Inc. on December 31, 2017, follows: (Click the icon to view the stockholders' equity on December 31, 2017.) On August 31, 2018, the market price of Blade's common stock was $12 per share and the company distributed a 10 percent stock dividend. Read the requirements. Requirement 1. Journalize the distribution of the stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Aug 31 Retained earnings 120,000 6 Data Table Common stock 10,000 Paid-in capital in excess of par-common 110,000 - X Stockholders' Equity Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the wo Pald-in capital: Corrion stock. $1 par, 300.000 shares authorized, Bheet.) Stockholders' Equity 100,000 issued and outstanding 100,000 600,000 Pald in capital: Paid-in capital in excess of par-common Total paic in capital Retained earnings 700,000 250,000 950,000 Total stockholders' equity Print Done HUMEWUIK. MUMEWUIR - Chapte Score: 0.67 of 2 pts %) E10-21A (similar to) 2017, follows: cember 31, 2017 stock was $12 pe :ommon 8 100,000 shares authorized, 300,000 shares authorized, 100,000 shares issued and outstanding 110,000 shares issued and outstanding Common stock, $.50 par, Common stock, $1 par, Other equity Paid-in capital in excess of par-common Retained earnings Total paid-in capital Total stockholders' equity R of the balance sh can find the ri soei

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Transformation Regulation Digitalisation And Sustainability

Authors: Jan Marton, Fredrik Nilsson, Peter Öhman

1st Edition

103253303X, 978-1032533032

More Books

Students also viewed these Accounting questions