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Jawaban BE15 - AKM

1) Woolford Inc. declared a $1 per share cash dividend on its 2 million outstanding shares on August 1, payable on September 9 to shareholders of record on August 15. Journal entries are made on August 1 to record dividends payable and on September 9 to record dividend payment. 2) Silva Inc. owns shares of Costa Corporation carried at fair value of R$875,000. On September 21, when fair value was R$1,200,000, Silva declared a property dividend payable on October 23 to shareholders on October 8. Journal entries are made on September 21 to record unrealized gain and property dividend payable. 3) Zhang Mining Company declared a dividend of

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1K views3 pages

Jawaban BE15 - AKM

1) Woolford Inc. declared a $1 per share cash dividend on its 2 million outstanding shares on August 1, payable on September 9 to shareholders of record on August 15. Journal entries are made on August 1 to record dividends payable and on September 9 to record dividend payment. 2) Silva Inc. owns shares of Costa Corporation carried at fair value of R$875,000. On September 21, when fair value was R$1,200,000, Silva declared a property dividend payable on October 23 to shareholders on October 8. Journal entries are made on September 21 to record unrealized gain and property dividend payable. 3) Zhang Mining Company declared a dividend of

Uploaded by

Mazz Badruez
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NAMA : ACH.

BADRUS SOLEH
NIM : 21108040041
KELAS :B
SOAL

BE15-10 Woolford Inc. declared a cash dividend of $1 per share on its 2 million outstanding
shares. The dividend was declared on August 1, payable on September 9 to all shareholders
of record on August 15. Prepare all journal entries necessary on those three dates.

BE15-11 Silva Inc. owns shares of Costa Corporation classified as a trading equity
investment. At Decem-ber 31, 2015, the trading equity investment was carried in Silva’s
accounting records at its cost of R$875,000, which equals its fair value. On September 21,
2016, when the fair value of the investment was R$1,200,000, Silva declared a property
dividend whereby the Costa securities are to be distributed on October 23, 2016, to
shareholders of record on October 8, 2016. Prepare all journal entries necessary on those
three dates.
BE15-12 Zhang Mining Company declared, on April 20, a dividend of ¥500,000,000 payable
on June 1. Of this amount, ¥125,000,000 is a return of capital. Prepare the April 20 and June
1 entries for Zhang.BE15-13 Green Day Corporation has outstanding 400,000 shares of $10
par value ordinary shares. The corporation declares a 5% share dividend when the fair value
is $65 per share. Prepare the journal entries for Green Day Corporation for both the date of
declaration and the date of distribution.
BE15-14 Use the information from BE15-13 but assume Green Day Corporation declared a
100% share dividend rather than a 5% share dividend. Prepare the journal entries for both the
date of declaration and the date of distribution.
JAWABAN
BE15-10
August 1
Retained Earnings (2,000,000 × $1.00))……………….. 2,000,000
Dividends payable………………………………. 2,000,000
August 15
No entry.
September 9
Dividends payable……………………………………...... 2,000,000
Cash……………………………………………… 2,000,000
BE15-11
September 21
Equity Investments………………………………………... 325,000
Unrealized Holding Gain or Loss-
Income ($1,200,000 - $875,000)……………….. 325,000
October 8
No entry
October 23
Property Dividends Payable……………………………… 1,200,000
Equity Investments……………………………….. 1,200,000
BE15-12
April 20
Retained Earnings
($500,000 - $125,000)………………………………… 375,000
Paid-in Capital in Excess of Par-
Common Stock…………………………………........... 125,000
Dividends Payable…………………………………. 500,000
June 1
Dividends Payable…………………………………………. 500,000
Cash………………………………………………... 500,000
BE15-13
Declaration Date
Retained Earnings……………………………………………………... 1,300,000
Common Stock Dividend Distributable……………………….. 200,000
Paid-in Capital in Excess of Par-
Common Stock………………………………………………. 1,100,000
(200,000 × $65 = $1,300,000; 20,000 × $10 = $200,000)
Distribution Date
Common Stock Dividend Distributable………………………………. 200,000
Common Stock………………………………………………... 200,000
BE15-14
Declaration Date
Retained Earnings……………………………………………………... 4,000,000
Common Stock Dividend Distributable
(400,000 × $10)…………………………………………….. 4,000,000
Distribution Date
Common Stock Dividend Distributable………………………………. 4,000,000
Common Stock………………………………………………... 4,000,000

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