Homework Answers
A.)
Computation of Number of shares, stock dividend, value of stock dividend
| Number of shares | = | 500,000 + 400,000 | = | 900,000 Shares |
| Stock dividend | = | 10%*900,000 | = | 90,000 Shares |
| Value of stock dividned | = | 90000*8 | = | $720,000 |
Computation of Multigrain's total shareholders equity at December 31.2016
| Particulars | Amount ($) |
| Common stock capital | - |
| 500,000 shares @ $7 each | 3,500,000.00 |
| 400,000 shares @ $8.5 each | 3,400,000.00 |
| Add : Stock dividend 90000 shares @ $8 each | 720,000.00 |
| A = | 7,620,000.00 |
| Multigrain Retained Earnings 2010 to 2016 | Amount ($) |
| Net income | 920,000.00 |
| Less : Cash Dividend | 140,000.00 |
| = | 780,000.00 |
| Less : Stock dividend (90000 shares @ $8 each) | 720,000.00 |
| B = | 60,000.00 |
| Multigrain's Total shareholders equity at December 31.2016 = (A+B) = |
7,680,000.00 |
B.)
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23. a) Big Auto Part Inc. is authorized to issue 5,000,000 common shares. In its initial...
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References Review View Help Open in Desktop App Tell me what you want to do Editing 11 v Dictate Α' Α' Β Ι Ο ν Αν Α. E 日 A e Find v Q3. a) Big Auto Part Inc. is authorized to issue 5,000,000 common shares. In its initial public offering during 2015, Big Parts issued 500,000 common shares for $7.00 per share. Over the next year, Big Auto Part's share price increased and the company issued 400,000 more shares...
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Multigrain Health Foods Inc. is authorized to issue 5,000,000 common shares. In its initial public offering during 2010, Multigrain issued 500,000 common shares for $7.00 per share. Over the next year, Multigrain’s share price increased and the company issued 400,000 more shares at an average price of $8.50. During the next seven years, from 2010 to 2016, Multigrain earned net income of $920,000. They declared and paid cash dividends of $140,000. A 10% stock dividend was distributed to the shareholders...
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Question 10 Multigrain Health Foods Inc. is authorized to issue 5,000,000 common shares. In its initial public offering during 2010, Multigrain issued 500,000 common shares for $7.00 per share. Over the next year, Multigrain’s share price increased and the company issued 400,000 more shares at an average price of $8.50. During the next seven years, from 2010 to 2016, Multigrain earned net income of $920,000. They declared and paid cash dividends of $140,000. A 10% stock dividend was distributed to...
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