250 outof250points(100%) - MGMT-026

?

250 outof250points(100%)

1 .

sward:

10 out of

10.00

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July 15

August 15

August 31

Declared a cash dividend payable to common stockholders of $16 5,000. Date of record is August 15 for th e cash dividend declared on July 15. Paid the dividend declared on July 15.

Prepare journal entries to record the above transactions for Emerson Corporation. (If no journal entry is required, select " No journal entry required" in the first account field.)

Date Jul 15

General Journal

Retained earnings Common dividend payable

Debit

Credit

./ 165,000./

./

165,000. /

Aug 15

No journal entry required

./

Aug 31 1--

Common dividend payable Gash

./ 165,000./

./

165,000. /

2.

sward:

10 out of

10.00

?????????????????????????????poinrs ???

Foxburo Company expects to pay a $2.34 per share cash dividend this year on its common stock. The

current market value of Foxburo stock is $32.50 per share.

Compute the expected dividend yield on the Foxburo stock.

Choose Numerator:

Annual cash dividends per share ./

$

2.34. /

Dividend Yield

Choose Denominator:

Market value per share ./

$

32.50. /

Dividend Yield Dividend Yield

7.2%

g.vard:

3 .

10 out of 10.00

??? ? ? ? ? ? ?points?

a. Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value

common stock assuming the shares sell for $5 cash per share.

Event 1

General Journal

Cash Common Stock, $5 Par Value

Debit

Credit

./ 375,000./

./

375,000. /

b. Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $6 cash per share.

Event

1

General Journal

Cash

Common stock, $5 par value

./

Paid-in capital in excess of par value, common stock ./

Debit 450,000. /

Credit

375,000. / 75,000. /

8'1Nard:

4. 10 out of 10.00

The stockholders' equi~/ section of Montel Company's balance sheet follows. The preferred stock's call price is $40.

Preferred stock- 5% cumulative, $10 par value, 20,000

shares authorized, issued and outstanding

$

Common stock- $5 par value, 200,000 shares

authorized, 150,000 shares issued and outstanding

Retained earnings

200,000

750,000 900,000

To tal stockholders' equi~/

$ 1,850,000

Determin e the book value per share of the common stock.

Book Value Per Coomon Share

Choose Numerator:

Choose Denominator:

Stockholders' equity applicable to common shares ./ I ;Number ofcommon shares outstanding ./

+---->

-

$

1,050,000./ I I$

150 ,000. /

Book Value Per Conmon Share

I =

Book Value Per Common Share

_= ~~$

7.00

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