Complete the following chart by inserting an "X" for each statement that is true. Cash dividend...
Complete the following chart by inserting an "X" for each statement that is true.
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Cash dividend |
Stock dividend |
Stock split |
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|---|---|---|---|
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Decreases retained earnings |
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Has no effect on a liability |
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Increases paid-in capital by the |
|||
|
same amount that it decreases |
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|
retained earnings |
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|
Decreases both total assets and |
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total stockholders' equity |
|||
|
Has no effect on total |
|||
|
stockholders' equity |
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Complete the following chart by inserting an "X" for each
statement that is true.
Cash dividend...
Problem 10-85A (Algorithmic) Common Dividends Pumpkin Accounting Corp. began 2019 with 1,000,000 authorized and 231,000 issued...
Problem 10-85A (Algorithmic) Common Dividends Pumpkin Accounting Corp. began 2019 with 1,000,000 authorized and 231,000 issued and outstanding $10 par common shares. During 2019, Pumpkin entered into the following transactions: Declared a $0.40 per-share cash dividend on March 10. Paid the $0.40 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $24 each on May 2. Sold 3,000 unissued common shares for $26 per share on June 9. Declared a $0.55 per-share cash dividend on August...
Part 1: True or False (1.5 point each, 15 points total) Indicate whether the following statements...
Part 1: True or False (1.5 point each, 15 points total) Indicate whether the following statements are true (T) or false (F). 1. An income statement presents the revenues, expenses, gains, losses, and net income (or net loss) of the business for a period of time. 2. A debit to a liability account increases that account. 3. The purchase of equipment for cash has no effect on the amount of total assets. 4. Unearned revenue is an income statement account....
4. Glaser Company paid $36,000 to buy 3,000 shares of its $5 par value common stock...
4. Glaser Company paid $36,000 to buy 3,000 shares of its $5 par value common stock for the treasury. The stock was originally sold for $27,000. The entry to record the purchase includes a a. debit to Treasury Stock for $27,000. b. credit to Treasury Stock for $15,000. c. debit to Treasury Stock for $36,000. d. credit to Common Stock for $27,000. 5. The purchase of treasury stock a. increases total assets and decreases total stockholders' equity. b. decreases total...
Problem 15-08 Sweet Company provides you with the following condensed balance sheet information: Assets Current assets...
Problem 15-08
Sweet Company provides you with the following condensed balance
sheet information:
Assets
Current assets
$ 43,100
Equity investments
65,400
Equipment (net)
262,700
Intangibles
65,300
Total assets
$436,500
Liabilities and Stockholders’ Equity
Current and long-term liabilities
$108,500
Stockholders’ equity
Common stock ($5 par)
$ 20,200
Paid-in capital in excess of par
117,700
Retained earnings
190,100
328,000
Total liabilities and
stockholders’ equity
$436,500
For each of the following transactions, indicate the dollar impact
(if any) on the following five items:...
14 Squash Delight Inc. has the following balance sheet: Assets Cash $ 90,000 Accounts receivable 380,000 Fixed assets 698,000 Total assets $ 1,168,000 Liabilit...
14
Squash Delight Inc. has the following balance sheet:
Assets
Cash
$
90,000
Accounts receivable
380,000
Fixed assets
698,000
Total assets
$
1,168,000
Liabilities
Accounts payable
$
328,000
Notes payable
58,000
Common stock (120,000 shares @ $4 par)
480,000
Capital in excess of par
100,000
Retained earnings
202,000
Total liabilities & owners'
equity
$
1,168,000
The firm’s stock sells for $16 a share.
a. Show the effect on the capital accounts of a
two-for-one stock split. (Do not round intermediate...
please need it MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the...
please need it
MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the statement or answer the question. 1) A liquidating dividend: A) Represents a distribution of a corporation's profits to the stockholders. B) Occurs whenever a corporation distributes non-cash assets as a dividend to its stockholders C) Occurs when a corporation distributes shares of its own stock as a dividend rather than cash D) Represents a return of invested capital to a corporation's owners, the stockholders...
_____ report a company's performance for each period, independent of other periods. a.The statement of cash...
_____ report a company's performance for each period, independent of other periods. a.The statement of cash flows and the income statement b.The statement of cash flows and the balance sheet c.The income statement and the balance sheet d.The balance sheet and the statement of retained earnings Which of the following is the last of the financial statements to be prepared by a company for any given financial year? a.The statement of stockholders' equity b.The balance sheet c.The statement of cash...
TRUE/FALSE. Write 'T' if the statement is true il 1) Financing activities are transactions involving external...
TRUE/FALSE. Write 'T' if the statement is true il 1) Financing activities are transactions involving external sources of funding. 2) Expense accounts increase with a debit and decrease with a credit 3) Purchasing equipment using cash causes assets to increase 4) Liability accounts increase with a debit and decrease with a credit 6) 5) Borrowing cash from the bank causes assets to increase and liabilities to increase 6) Amounts owed to suppliers, employees, the government in the form of taxes,...
ACT202: Chapter 13 Home Work Exercises Exercise 13-5: Large Stock Dividend and Stock Split: GIVEN: On...
ACT202: Chapter 13 Home Work Exercises Exercise 13-5: Large Stock Dividend and Stock Split: GIVEN: On June 30, 2017, Sharper Corporation's common stock is priced at $30.50 per share before any stock dividend or split, and the stockholders' equity section of its BS appears as follows: Common stock - $6 par value, 90,000 shares authorized, 36,000 shares issued and outstanding Paid-in capital in excess of par value, Common Stock Retained earnings Total Stockholders' Equity $ $ $ $ 216,000 100,000...
Ayayal Corp. has 7,100 shares of common stock outstanding, it declares a $1 per share cash...
Ayayal Corp. has 7,100 shares of common stock outstanding, it declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare a tabular summary to record the declaration and payment of the cash dividend. Of a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Lobility or Equity item...
Part 1: True or False (1.5 point each, 15 points total) Indicate whether the following statements are true (T) or false (F). 1. An income statement presents the revenues, expenses, gains, losses, and net income (or net loss) of the business for a period of time. 2. A debit to a liability account increases that account. 3. The purchase of equipment for cash has no effect on the amount of total assets. 4. Unearned revenue is an income statement account....
Problem 15-08
Sweet Company provides you with the following condensed balance
sheet information:
Assets
Current assets
$ 43,100
Equity investments
65,400
Equipment (net)
262,700
Intangibles
65,300
Total assets
$436,500
Liabilities and Stockholders’ Equity
Current and long-term liabilities
$108,500
Stockholders’ equity
Common stock ($5 par)
$ 20,200
Paid-in capital in excess of par
117,700
Retained earnings
190,100
328,000
Total liabilities and
stockholders’ equity
$436,500
For each of the following transactions, indicate the dollar impact
(if any) on the following five items:...
14
Squash Delight Inc. has the following balance sheet:
Assets
Cash
$
90,000
Accounts receivable
380,000
Fixed assets
698,000
Total assets
$
1,168,000
Liabilities
Accounts payable
$
328,000
Notes payable
58,000
Common stock (120,000 shares @ $4 par)
480,000
Capital in excess of par
100,000
Retained earnings
202,000
Total liabilities & owners'
equity
$
1,168,000
The firm’s stock sells for $16 a share.
a. Show the effect on the capital accounts of a
two-for-one stock split. (Do not round intermediate...
please need it
MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the statement or answer the question. 1) A liquidating dividend: A) Represents a distribution of a corporation's profits to the stockholders. B) Occurs whenever a corporation distributes non-cash assets as a dividend to its stockholders C) Occurs when a corporation distributes shares of its own stock as a dividend rather than cash D) Represents a return of invested capital to a corporation's owners, the stockholders...
TRUE/FALSE. Write 'T' if the statement is true il 1) Financing activities are transactions involving external sources of funding. 2) Expense accounts increase with a debit and decrease with a credit 3) Purchasing equipment using cash causes assets to increase 4) Liability accounts increase with a debit and decrease with a credit 6) 5) Borrowing cash from the bank causes assets to increase and liabilities to increase 6) Amounts owed to suppliers, employees, the government in the form of taxes,...
ACT202: Chapter 13 Home Work Exercises Exercise 13-5: Large Stock Dividend and Stock Split: GIVEN: On June 30, 2017, Sharper Corporation's common stock is priced at $30.50 per share before any stock dividend or split, and the stockholders' equity section of its BS appears as follows: Common stock - $6 par value, 90,000 shares authorized, 36,000 shares issued and outstanding Paid-in capital in excess of par value, Common Stock Retained earnings Total Stockholders' Equity $ $ $ $ 216,000 100,000...
Ayayal Corp. has 7,100 shares of common stock outstanding, it declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare a tabular summary to record the declaration and payment of the cash dividend. Of a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Lobility or Equity item...
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