Grouper Corporation has 258,000 shares of $5 par value common stock outstanding. Grouper declares a 40% stock dividend on March 2 when the stock’s market value is $68 per share. The journal entry for the declaration of the stock dividend is:

Athenian Corporation had net income of $34,000. The common shares outstanding at the end of the year were 8,500. Athenian declared a $3,200 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company’s earnings per share is:

A machine with a cost of $136,000 and accumulated depreciation of $88,000 is sold for $42,400 cash. The amount of the loss related to the sale of this machine should be reported in the operating section under the indirect method is:

Blue Angel Company has $110,000 of 9% noncumulative, preferred stock outstanding. Blue Angel also has $510,000 of common stock outstanding. In the company’s first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $31,000. This dividend should be distributed as follows:

When a company provides additional shares to stockholders according to their percent ownership, it is known as a(n):

Solis Company issued 5-year, 9.50% bonds with a par value of $109,000. The market rate when the bonds were issued was 9.00%. The company received $111,294 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:

When a company provides additional shares to stockholders according to their percent ownership, it is known as a(n):

Maple Corporation accepted a $17,200, 90-day, 6% note from Tracy Janitorial on October 17. What entry should Maple Corporation make on January 15 of the next year when the note is paid?  Note: Use 360 days a year.

Francis, Inc., had the following activities during the current year: -Acquired 2,000 shares of stock in Daly, Inc., for $26,000 -Sold an investment in bonds classified as available for sale for $35,000 when the carrying amount was $33,000 -Acquired a $50,000, 4-year certificate of deposit from a bank that was classified as held to maturity. (During the year, interest of $3,750 was paid to Francis.) -Collected dividends of $1,200 on stock investments in Byline Corporation In Francis’s current-year statement of cash flows, net cash used in investing activities should be

Maple Corporation accepted a $17,200, 90-day, 6% note from Tracy Janitorial on October 17. What entry should Maple Corporation make on January 15 of the next year when the note is paid?  Note: Use 360 days a year.