The Following Account Balances Appear on the Balance Sheet of Osgood

question 155

Essay

The following account balances appear on the balance sheet of Osgood Industries:
Common Stock (300,000 shares authorized, $100 par): $10,000,000
Paid-In Capital in Excess of Par-Common Stock: $2,000,000
Retained Earnings: $45,000,000
The board of directors declared a 2% stock dividend when the market price of the stock was $135 a share.​
Required:
(1)Journalize the entries to record
(a)the declaration of the dividend, capitalizing an amount equal to market value
(b)the issuance of the stock certificates
(2)Determine the following amounts before the stock dividend was declared:
(a)Total paid-in capital
(b)Total retained earnings
(c)Total stockholders' equity
(3)Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year:
(a)Total paid-in capital
(b)Total retained earnings
(c)Total stockholders' equity

Examine the relationship between the supply of higher education and its affordability.

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Grasp the concept and effectiveness of behavior modelling training.

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Definitions:

Advertising Campaigns

A series of coordinated marketing messages aimed at promoting a product, service, or idea, across various media outlets.

Functional Departments

Refer to specialized units within an organization, each focusing on a specific area of operation such as marketing, finance, or human resources.

Intergroup Conflict

Disputes or antagonism between different groups, often arising from competition for resources, differences in values, or perceived threats.

Emotional Conflict

A clash arising from differences in feelings, values, or personal relationships, often leading to stress or tension in personal interactions.