Pro-builders corporation has 1,500,000 shares of $5 par common stock outstanding. on september 2, pro-builders corporation declared a 3% stock dividend to be issued november 30 to stockholders of record on october 3. the market price of the stock was $36 per share on september 2.
journalize the entries required on september 2, october 3, and november 30. if no entry is required, simply skip to the next transaction. refer to the chart of accounts for exact wording of account titles.
chart of accounts
pro-builders corporation
general ledger
assets
110 cash
120 accounts receivable
131 notes receivable
132 interest receivable
141 merchandise inventory
145 office supplies
151 prepaid insurance
181 land
193 equipment
194 accumulated depreciation-equipment
liabilities
210 accounts payable
221 notes payable
226 interest payable
231 cash dividends payable
236 stock dividends distributable
241 salaries payable
261 mortgage note payable
equity
311 common stock
312 paid-in capital in excess of par-common stock
315 treasury stock
321 preferred stock
322 paid-in capital in excess of par-preferred stock
331 paid-in capital from sale of treasury stock
340 retained earnings
351 cash dividends
352 stock dividends
390
income summary
journal
accounting equation
date description post. ref. debit credit assets liabilities equity
1
2
3
4
5

Pettijohn inc. the balance sheet and income statement shown below are for pettijohn inc. note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. balance sheet (millions of $) assets 2016 cash and securities $ 1,554.0 accounts receivable 9,660.0 inventories 13,440.0 total current assets $24,654.0 net plant and equipment 17,346.0 total assets $42,000.0 liabilities and equity accounts payable $ 7,980.0 notes payable 5,880.0 accruals 4,620.0 total current liabilities $18,480.0 long-term bonds 10,920.0 total debt $29,400.0 common stock 3,360.0 retained earnings 9,240.0 total common equity $12,600.0 total liabilities and equity $42,000.0 income statement (millions of $) 2016 net sales $58,800.0 operating costs except depr'n $54,978.0 depreciation $ 1,029.0 earnings bef int and taxes (ebit) $ 2,793.0 less interest 1,050.0 earnings before taxes (ebt) $ 1,743.0 taxes $ 610.1 net income $ 1,133.0 other data: shares outstanding (millions) 175.00 common dividends $ 509.83 int rate on notes payable 1. what is the firm's current ratio? (points : 6) 0.97 1.08 1.20 1.33 2. what is the firm's quick ratio? (points : 6) 0.49 0.61 0.73 0.87 3. what is the firm's total assets turnover? (points : 6) 0.90 1.12 1.40 1.68 4. what is the firm's inventory turnover ratio? (points : 6) 4.38 4.59 4.82 5.06 5. what is the firm's debt ratio? (points : 6) 45.93% 51.03% 56.70% 70.00% 6. what is the firm's roa? (points : 6) 2.70% 2.97% 3.26% 3.59% 7. what is the firm's roe? (points : 6) 8.54% 8.99% 9.44% 9.91%

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58

Investors who put their own money into a startup are known as a. mannequins b. obligators c. angels d. borrowers