Journal entry to record liquidating dividend


08-Jan-2020 15:58

If the Board of Directors has not specified a stated value, the entire amount received when the shares are sold is recorded in the common stock account.

If a corporation has both par value and no‐par value common stock, separate common stock accounts must be maintained. The sale of preferred stock is accounted for using these same principles.

journal entry to record liquidating dividend-57

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journal entry to record liquidating dividend-8

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The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by ,000.If Big City Dwellers issued 1,000 shares of its

The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.

If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

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The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

par value preferred stock for 0 per share, the entry to record the sale would increase (debit) cash by 0,000 (1,000 shares × 0 per share), increase (credit) preferred stock by the par value, or

The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.

If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

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The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

,000 (1,000 shares ×

The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.

If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

||

The sale of the stock is recorded by increasing (debiting) cash and increasing (crediting) common stock by $5,000.If Big City Dwellers issued 1,000 shares of its $1 par value preferred stock for $100 per share, the entry to record the sale would increase (debit) cash by $100,000 (1,000 shares × $100 per share), increase (credit) preferred stock by the par value, or $1,000 (1,000 shares × $1 par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of $99,000.

par value), and increase (credit) additional paid‐in‐capital—preferred stock for the difference of ,000.