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On January 1, Sandford Corporation had 80,000 shares of $10 par value common stock outstanding

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On January 1, Sandford Corporation had 80,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a a. debit to Retained Earnings for $120,000. b. credit to Cash for $120,000 C. credit to Common Stock Dividends Distributable for $120,000. d. credit to Common Stock Dividends Distributable for $40,000, On January 1, Sanford Corporation had 80,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10% stock dividend to stockholders of . record on June 20. Market value of the stock was $15 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a a. credit to Common Stock for $80,000 b. debit to Common Stock Dividends Distributable for $120,000. C. credit to Paid-in Capital in Excess of Par Value for $40,000. $. d. debit to Retained Earnings for $40,000. The following selected amounts are available for Sanders Company. Retained earnings (beginning) Net loss 100 Cash dividends declared 100 Stock dividends declared 50 What is its ending retained eamings balance? a. $850 b. $900 c. $750 d. $800 86. $1,000 87 Turquoise and Topaz Sisters had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained eamings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends? a. $7,000 b. $8,000 c. $10.000 d. $5,000 88 Irwin, Inc. had 300,000 shares of common stock outstanding before a stock split occurred, , and 600.000 shares outstanding after the stock split. The stock split was a. 3 for 6. b. 6 for 1 C. 1 for 6 d2 d. 2 for 1. Use the following information for questions 102-103. Carter Corporation had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000 to preferred stockholders in 2008. Carter Corporation's common stockholders' equity at the beginning and end of 2008 was $870,000 and $1,130,000, respectively. There are 100,000 weighted-average shares of common stock outstanding 102. Carter Corporation's return on common stockholders' equity was a. 25% b. 23% C. 20%. d. 18% 103. Carter Corporation's earnings per share for 2008 was a $2.50 b. $2.30. c. $2.00 d. $1.80