Your answer is partially correct. Try again. On January 1, 2019, Concord Corporation had $1,470,000 of common stock outstanding that was issued at par. It also had retained earnings of $741,500. The company issued 41,500 shares of common stock at par on July 1 and earned net income of $400,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2019, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (a) (b) Par value is $10, and market price is $18. Par value is $5, and market price is $21. No. Account Titles and Explanation Debit Credit (a) Retained Earnings 3969000 Common Stock Paid-in Capital in Excess of Par-Common Stock 6:25 PM 11/30/2019 DOLL (a) (b) Par value is $10, and market price is $18. Par value is $5, and market price is $21. No. Account Titles and Explanation Debit Credit Retained Earnings 3969000 Common Stock Paid-in Capital in Excess of Par-Common Stock DIJODI Retained Earnings Common Stock Paid-in Capital in Excess of Par-Common Stock Click if you would like to Show Work for this question: Open Show Work DELL Exercise 11-15 On October 31, the stockholders equity section of Concord Corporation consists of common stock $265,000 and retained earnings $883,000. Concord is considering the following two courses of action: (1) dedaring a 6% stock dividend on the 26,500, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. Before Action Alter Stock Dividend Alter Stock Split Stockholders' equity Paid-in capital Common stock In excess of par Total pald-in capital Retained earnings Total stockholders equity Outstanding Shares Par value per share Click if you would like to show Work for this question: Open Show Work LENK TO TEXT re to search 6:26 PM 11/30/2019 DELL Exercise 11-3 During its first year of operations, Swifty Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 69,500 shares for cash at $7 per share. July 1 Issued 38,000 shares for cash at $10 per share. Journalize the transactions, assuming that the common stock has a par value of $7 per share. (Record journal entries in the order presented in tr titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the acco amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record journal entries in the order prese th anded mount is entered. Do not indent manually. If no entry is required, select "No Entry" for the Suger/shared/assignment/test/aglistuniidasnmt2346928#N100E3 Search DOLL
