For Each of the Following Independent Transactions a Through D,prepare

question 188

Essay

For each of the following independent transactions a through d,prepare the necessary journal entry:
(a)Declared a $0.40 per share cash dividend on 300,000 shares of preferred stock outstanding.
(b)Declared and distributed an 8% stock dividend on 800,000 shares of $5 par value common stock outstanding.Market price per common share on this date was $25.
(c)Declared and distributed a 2-for-1 stock split on 400,000 shares of $10 par value common stock outstanding.
(d)Declared and distributed a 35% stock dividend on 700,000 common shares of $1 par value common stock outstanding.Market price per common share on this date was $20.

Explain the effects of technological advancements on market outcomes.

Determine the consequences of changes in consumer income on inferior and normal goods.

Assess the impact of governmental regulations on market equilibrium.

Understand the effect of substitute and complementary goods on market dynamics.

---

Definitions:

Law School

An educational institution specializing in legal studies, typically offering professional degrees for lawyers, such as Juris Doctor (JD).

Individual Attitudes

Refers to the personal feelings, beliefs, and behaviors predisposed towards people, objects, or concepts.

GDP

Gross Domestic Product, a measure of the economic performance of a country, summing the total value of all goods and services produced over a specified time period.

Federal Government Revenue

The income the government receives from taxes, fees, and other sources to fund public services and goods.