Strayer university acc/557 entire couse (instant download) | English homework help

Question 12-7

Garza Co. had the following transactions during the current period.

Instructions

Journalize the transactions.

Question E 12-15

On October 31, the stockholders' equity section of Omar Company consists of common stock $600,000 and retained earnings $900,000. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share.

Instructions

Complete the tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and book value per share.

Question E12-17

On January 1, 2008, Castle Corporation had retained earnings of $550,000. During the year, Castle had the following selected transactions. Declared cash dividends $120,000. Corrected overstatement of 2007 net income because of depreciation error $30,000. Earned net income $350,000. Declared stock dividends $80,000.

Instructions

Complete the retained earnings statement for the year.

Question P12-3A

The stockholders' equity accounts of Jajoo Corporation on January 1, 2008, were as follows. During 2008, the corporation had the following transactions and events pertaining to its stockholders' equity.