2 part of Accounting Homework
Mar. 5 Declared a $.40 per share cash dividend to be paid on April 6 to stockholders of record on March 20.
Mar 20 Date of record
Apri. 6 Paid the cash dividend
June 17 Declared a 10% stock dividend to be distributed August 17 to stockholders of record on August 5.
The market value of the stock was $14 per share.
Aug. 5 Date of Record
17 Distributed the stock dividend
Oct. 2 Split its stock 2 for 1
Dec. 27 Declared a cash dividend of $.20 payable January 27, 2009, to stock holders or record on January 14, 2009
no longer need answer to this question!
To answer the two parts of the accounting homework related to the given information, we need to analyze the events and transactions listed in the given timeline.
1. Part 1: Calculating the Cash Dividend
a. On March 5, a cash dividend of $0.40 per share was declared.
b. The dividend is to be paid on April 6 to stockholders of record on March 20.
To calculate the cash dividend, we need to determine the number of shares held by the stockholders of record on March 20.
Step 1: Identify the shareholders eligible for the dividend.
On March 20, all shareholders who held the stock were eligible for the dividend.
Step 2: Determine the number of shares held by the stockholders of record on March 20.
You may need additional information about the total number of shares outstanding or the number of shares held by stockholders on March 20. Without this information, it is not possible to calculate the exact cash dividend.
2. Part 2: Determining the Stock Dividend
a. On June 17, a stock dividend of 10% was declared.
b. The stock dividend is to be distributed on August 17 to stockholders of record on August 5.
c. The market value of the stock was $14 per share.
To calculate the stock dividend, we need to determine the number of shares held by the stockholders of record on August 5 and the total number of shares outstanding.
Step 1: Identify the shareholders eligible for the stock dividend.
On August 5, only the shareholders who held the stock were eligible for the stock dividend.
Step 2: Determine the number of shares held by stockholders of record on August 5.
You may need additional information about the total number of shares outstanding or the number of shares held by stockholders on August 5. Without this information, it is not possible to calculate the exact stock dividend.
Once you have the number of shares held by the stockholders of record on August 5 and the total number of shares outstanding, multiply the number of shares by 10% to calculate the number of stock dividends to be distributed.
Note: To complete both parts of the accounting homework, you will need additional information about the total number of shares outstanding or the number of shares held by stockholders on specific dates. Without this information, it is not possible to provide a precise answer.