Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz give me the right answer On January 1, 2022, Pharoah Company had the following stockholders' equity accounts. During the year, the following transactions occurred.

plz give me the right answer
image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2022, Pharoah Company had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a $1 csh dividend per share to stockholders of record on February 15 , payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $37. July 1 Declared a 10\%stock dividend to stockholders of record on July 15, distributable July 31 . On July 1 , the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.30 per share dividend to stockholders of record on December 15 , payable January 5,2023. 31 Determined that net income for the year was $375,000. Common Stock Dividends Distributable Cash Dividends Stock Dividends

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 Information Systems Enhancing Performance Of The Enterprise

Authors: Abraham Nyirongo

1st Edition

1490754997, 9781490754994

More Books

Students also viewed these Accounting questions

Question

4. Devise an interview strategy from the interviewers point of view

Answered: 1 week ago