Business, 11.07.2019 19:10 jameslinimk
On october 1, 2018, nicklaus corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,000 shares outstanding) with a new common stock issue having a $.50 par value. since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. that is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. the $1 par stock will be collected and destroyed by the issuing corporation.
on november 1, 2018, the nicklaus corporation declares a $0.20 per share cash dividend on common stock and a $0.37 per share cash dividend on preferred stock. payment is scheduled for december 1, 2018, to shareholders of record on november 15, 2018. on december 2, 2018, the nicklaus corporation declares a 2% stock dividend payable on december 28, 2018, to shareholders of record on december 14. at the date of declaration, the common stock was selling in the open market at $10 per share. the dividend will result in 152,000 (0.02 × 7,600,000) additional shares being issued to shareholders. required: 1. prepare journal entries to record the declaration and payment of these stock and cash dividends.
Answers: 3
Business, 22.06.2019 13:00
Creation landscaping has 1,000 bonds outstanding that are selling for $1,280 each. the company also has 2,000 shares of preferred stock outstanding, currently priced at $27.20 a share. the common stock is priced at $37.00 a share and there are 28,000 shares outstanding. what is the weight of the debt as it relates to the firm's weighted average cost of capital?
Answers: 1
Business, 23.06.2019 00:10
During the current year, luis university received a $50,000 gift from an alumna who specified that it must be used to pay travel costs for faculty to attend health care conferences in foreign countries. during the year the university spent $8,000 to support travel to a health care conference in italy. the $8,000 disbursement will cause a net decrease in which class of net assets?
Answers: 1
Business, 23.06.2019 02:10
Which of the following best explains the purpose of a supply schedule? a. to calculate how much time it takes for distribution. b. to indicate how supply and demand relate to price. c. to show the relationship between quantity supplied and prices. d. to demonstrate how the supply decreases as price increases.
Answers: 1
On october 1, 2018, nicklaus corporation receives permission to replace its $1 par value common stoc...
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