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Answer:JC Coffee house journal$
Date
a. June 1 2022
Bank Dr. 15,000
Gem state bank Cr. 15,000
Narration. Acquisitions of $15,000, 8%, 7c months loan.
b. June 30, 2022
Interest Dr 1200
Gem bank Cr. 1200
Interest on loan for the month of June
C. Interest as at December 31 2022
8% * $15,000*7
=$8400
Jan 1 2023
Gem state bank Dr 23,400
Bank. Cr. 23,400
Narration. Payment of $15,000, at 8% , 7 months and associated interest on maturity.
Answer:
$2,198,000
Explanation:
The computation of the value of the capital in excess of par account after the dividend is shown below:
Number of shares of stock outstanding = 42,000 shares
Stock dividend percentage = 50%
Now the new shares would be
= 42,000 × 50%
= 21,000 shares
Capital in excess of par value would be
= $41 - $1
= $40
For 21,000 shares, the paid in capital in excess is
= 21,000 shares × $40
= $840,000
And, the capital in excess as per the balance sheet is $1,358,000
Now the value of the capital in excess of par after the dividend is
= $1,358,000 + $840,000
= $2,198,000