User Account

All Pages

What was the effect on Garrett shareholders equity accounts

Assignment Help Accounting Basics
Reference no: EM132889606

Problem - Cash dividends on the $10 par value common stock of Garrett Company were as follows:

1st quarter of 2019 $ 800,000

2nd quarter of 2019 900,000

3rd quarter of 2019 1,000,000

4th quarter of 2019 1,100,000

The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020.

In addition, Garrett declared a 5% stock dividend on its $10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was $20 per share. The shares were issued on December 24, 2019.

Required - What was the effect on Garrett's shareholders' equity accounts as a result of the preceding transactions?

Reference no: EM132889606

Questions Cloud

Uncharted waters for the ncaa : It has been a long-held practice that the NCAA does not believe in paying players from any sport to play or profit from the use of their name or image.
Comprehensive business governance plan : Create a comprehensive business governance plan for the organization you selected.
Advise cas of her australian tax residency status : Advise Cas of her Australian tax residency status for the financial years 2017/2018 and 2018/2019 and Is Cas an Australian resident for the financial year 2019
Global principles : Some companies have certain Global Principles for Ethical Business Conduct to which they adhere, while doing business globally.
What was the effect on Garrett shareholders equity accounts : In addition, Garrett declared a 5% stock dividend on its $10 par value common stock on December 3, 2019, What was the effect on Garrett shareholders equity
Moving jobs or business operations out of state : Moving jobs or business operations out of state, country, or overseas is not new. Is it ever unethical for a company to do so?
What should be the current balance of retained earnings : Additional paid-in capital from treasury stock 140,000. What should be the current balance of retained earnings
What psychological methodology does nlp stand for : Albert Mehrabian researched and published a now widely referenced set of statistics for the effectiveness of spoken communications relating to feelings and atti
Explore the pros and cons for identifying the nurse leader : Based on the evidence from your research and resources, state if you agree or disagree on these roles meeting advanced practice nurse statue.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd