Homework Answers
Part A
|
1. Total assets |
Decrease |
$2050 |
|
2. common stock |
No effect |
|
|
3. Paid-in capital in excess of par |
No effect |
|
|
4. Retained earnings |
Decrease |
$2050 |
|
5. Total stockholders’ equity |
Decrease |
$2050 |
|
Account titles and explanation |
Debit |
Credit |
|
Retained Earnings (20500/5*0.5) |
2050 |
|
|
Dividends Payable |
2050 |
|
|
Dividends Payable |
2050 |
|
|
Cash |
2050 |
Part B
|
1. Total assets |
No effect |
|
|
2. common stock |
Increases |
$2050 |
|
3. Paid-in capital in excess of par |
Increases |
$3690 |
|
4. Retained earnings |
Decrease |
$5740 |
|
5. Total stockholders’ equity |
No effect |
|
Account titles and explanation |
Debit |
Credit |
|
Retained Earnings (20500/5)*10%*14 |
5740 |
|
|
Common Stock Dividend Distributable (20500/5)*10%*5 |
2050 |
|
|
Paid-in capital in excess of par value (20500/5)*10%*9 |
3690 |
|
|
Common Stock Dividend Distributable |
2050 |
|
|
Common Stock |
2050 |
Part C
|
1. Total assets |
No effect |
|
|
2. common stock |
Increases |
$5945 |
|
3. Paid-in capital in excess of par |
No effect |
|
|
4. Retained earnings |
Decrease |
$5945 |
|
5. Total stockholders’ equity |
No effect |
|
Account titles and explanation |
Debit |
Credit |
|
Retained Earnings (20500/5)*29%*5 |
5945 |
|
|
Common Stock Dividend Distributable |
5945 |
|
|
Common Stock Dividend Distributable |
5945 |
|
|
Common Stock |
5945 |
Part D
|
1. Total assets (18450-6150) |
Decrease |
$12300 |
|
2. common stock |
No effect |
|
|
3. Paid-in capital in excess of par |
No effect |
|
|
4. Retained earnings |
Decrease |
$12300 |
|
5. Total stockholders’ equity |
Decrease |
$12300 |
|
Account titles and explanation |
Debit |
Credit |
|
Equity Investments ((20500/5)/2)*((58800/9800)-9) |
6150 |
|
|
Unrealized Holding Gain or Loss—Income |
6150 |
|
|
Retained Earnings ($9 X ((20500/5)/2)) |
18450 |
|
|
Equity Investments |
18450 |
Part E
|
1. Total assets |
No effect |
|
2. common stock |
No effect |
|
3. Paid-in capital in excess of par |
No effect |
|
4. Retained earnings |
No effect |
|
5. Total stockholders’ equity |
No effect |
Add Answer to:
Bonita Company provides you with the following condensed balance sheet information: $ 42,600 58,800 247,500 64,100...
Kingbird Company provides you with the following condensed balance sheet information Assets Current assets Equity investments...
Kingbird Company provides you with the following condensed balance sheet information Assets Current assets Equity investments Equipment (net) Intangibles $ 43,900 64,800 238,100 58,300 $405,100 Total assets Liabilities and Stockholders' Equity Current and long-term liabilities Stockholders' equity $102,000 Common stock ($5 par) Paid-in capital in excess of par Retained earnings $ 19,900 112,800 170,400 303,100 Total liabilities and stockholders' equity $405,100 For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2)...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity Current assets Equity investments Equipment (net) Intangibles 43,900 64,BOO 238,100 5B,300 $405,100 (c) akmuas declares and issues a 30% stock dividend when the market price of the stock is S 14 per share. Total assets (1) Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $102,000 (2) Common stock Common stock ($5 par》 Paid-in capital in excess of par Retained earnings...
Problem 15-8 Riverbed Company provides you with the following condensed balance sheet information Assets Current assets...
Problem 15-8 Riverbed Company provides you with the following condensed balance sheet information Assets Current assets Equity investments Equipment (net) Intangibles 43,300 57,600 248,800 62,900 $412,600 Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $94,100 Common stock ($5 par) Paid-in capital in excess of par Retained earnings 21,000 103,100 194,400 318,500 Total liabilities and stockholders' equity $412,600 For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2)...
Sheffield Company provides you with the following condensed balance sheet information: $36,800 58,800 235,700 54,600 $385,900...
Sheffield Company provides you with the following condensed balance sheet information: $36,800 58,800 235,700 54,600 $385,900 Assets Current assets Equity investments Equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Current and long-term liabilities Stockholders' equity Common stock ($5 par) $ 21,100 Paid-in capital in excess of par 110,200 Retained earnings 155,200 Total liabilities and stockholders' equity $99,400 286,500 $385,900 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets,...
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:...
Problem 15-8 Sheridan Company provides you with the following condensed balance sheet information: Assets Current assets...
Problem 15-8 Sheridan Company provides you with the following condensed balance sheet information: Assets Current assets $ 37,600 Equity investments 58,800 Equipment (net) 248,300 Intangibles 59,800 Total assets $404,500 Liabilities and Stockholders’ Equity Current and long-term liabilities $107,900 Stockholders’ equity Common stock ($5 par) $ 20,800 Paid-in capital in excess of par 117,100 Retained earnings 158,700 296,600 Total liabilities and stockholders’ equity: $404,500 For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total...
The stockholders' equity section of Jun Cos balance sheet as of April 1 follows. On April...
The stockholders' equity section of Jun Cos balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $25 (prior to the dividend). Common stock-$5 par value, 455, eee shares authorized, 240,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,2ee, eee 570,000 873, eee $2,643,000 Prepare the stockholders' equity section immediately after...
The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April...
The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $10 (prior to the dividend) Common stock-$5 par value, 495,000 shares authorized, 260,000 shares issued and outstanding $1,300,006 Paid-in capital in excess of par value, common stock 610,000 893,000 $2,803,000 Retained earnings Total stockholders' equity Prepare the stockholders' equity section immediately after the stock dividend...
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April...
The stockholders’ equity section of Jun Company’s balance sheet
as of April 1 follows. On April 2, Jun declares and distributes a
20% stock dividend. The stock’s per share market value on April 2
is $10 (prior to the dividend).
QS 13-7 Accounting for small stock dividend LO P2 The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock's per share market value...
The stockholders' equity sectlon of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and...
The stockholders' equity sectlon of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 Is $15 (prior to the diMdend). Conmon stock-$5 par value, 395,ee0 shares authorized, 218,ee0 shares issued and outstanding Paid-in capital in exceSS of par value, common stock Retained earnings 1.ese, ee 510,000 843,008 2,403,000 Total stockholders equity Prepare the stockholders' equity section Immediately after the stock...
Kingbird Company provides you with the following condensed balance sheet information Assets Current assets Equity investments Equipment (net) Intangibles $ 43,900 64,800 238,100 58,300 $405,100 Total assets Liabilities and Stockholders' Equity Current and long-term liabilities Stockholders' equity $102,000 Common stock ($5 par) Paid-in capital in excess of par Retained earnings $ 19,900 112,800 170,400 303,100 Total liabilities and stockholders' equity $405,100 For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2)...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity Current assets Equity investments Equipment (net) Intangibles 43,900 64,BOO 238,100 5B,300 $405,100 (c) akmuas declares and issues a 30% stock dividend when the market price of the stock is S 14 per share. Total assets (1) Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $102,000 (2) Common stock Common stock ($5 par》 Paid-in capital in excess of par Retained earnings...
Problem 15-8 Riverbed Company provides you with the following condensed balance sheet information Assets Current assets Equity investments Equipment (net) Intangibles 43,300 57,600 248,800 62,900 $412,600 Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $94,100 Common stock ($5 par) Paid-in capital in excess of par Retained earnings 21,000 103,100 194,400 318,500 Total liabilities and stockholders' equity $412,600 For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2)...
Sheffield Company provides you with the following condensed balance sheet information: $36,800 58,800 235,700 54,600 $385,900 Assets Current assets Equity investments Equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Current and long-term liabilities Stockholders' equity Common stock ($5 par) $ 21,100 Paid-in capital in excess of par 110,200 Retained earnings 155,200 Total liabilities and stockholders' equity $99,400 286,500 $385,900 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total 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:...
The stockholders' equity section of Jun Cos balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $25 (prior to the dividend). Common stock-$5 par value, 455, eee shares authorized, 240,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,2ee, eee 570,000 873, eee $2,643,000 Prepare the stockholders' equity section immediately after...
The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $10 (prior to the dividend) Common stock-$5 par value, 495,000 shares authorized, 260,000 shares issued and outstanding $1,300,006 Paid-in capital in excess of par value, common stock 610,000 893,000 $2,803,000 Retained earnings Total stockholders' equity Prepare the stockholders' equity section immediately after the stock dividend...
The stockholders’ equity section of Jun Company’s balance sheet
as of April 1 follows. On April 2, Jun declares and distributes a
20% stock dividend. The stock’s per share market value on April 2
is $10 (prior to the dividend).
QS 13-7 Accounting for small stock dividend LO P2 The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock's per share market value...
The stockholders' equity sectlon of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 Is $15 (prior to the diMdend). Conmon stock-$5 par value, 395,ee0 shares authorized, 218,ee0 shares issued and outstanding Paid-in capital in exceSS of par value, common stock Retained earnings 1.ese, ee 510,000 843,008 2,403,000 Total stockholders equity Prepare the stockholders' equity section Immediately after the stock...
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