Question

On January 1, 2020, Crane Corporation had the following stockholders’ equity accounts. Common Stock (no par value, 91,000 shares issued and outstanding) $1,385,000 Retained Earnings 546,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was $37. July 1 Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 31 Determined that net income for the year was $381,000.

Prepare the stockholders’ equity section of the balance sheet at March 31. (Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.) CRANE CORPORATION Partial Balance Sheet March 31, 2020For the Quarter Ended March 31, 2020For the Year Ended March 31, 2020 Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity $     Additional Paid-in Capital    Capital Stock    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Paid-in Capital    Property, Plant and Equipment    Stockholders' Equity    Total Additional Paid-in Capital    Total Assets    Total Capital Stock    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Property, Plant and Equipment    Total Stockholders' Equity     $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT

Prepare the stockholders’ equity section of the balance sheet at June 30. (Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.) CRANE CORPORATION Partial Balance Sheet For the Year Ended June 30, 2020June 30, 2020For the Quarter Ended June 30, 2020 Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity $     Additional Paid-in Capital    Capital Stock    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Paid-in Capital    Property, Plant and Equipment    Stockholders' Equity    Total Additional Paid-in Capital    Total Assets    Total Capital Stock    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Property, Plant and Equipment    Total Stockholders' Equity     $

Answer 1

Partial Balance Sheet
as at Mar 31
Stockholder's Equity
Paid in Capital
Capital Stock:
Common Stock [91000 shares]	$1,385,000
Retained earnings [546000 - 91000 cash dividends]	$455,000
Total Stockholder's Equity	$1,840,000
Partial Balance Sheet
as at June 30
Stockholder's Equity
Paid in Capital
Capital Stock:
Common Stock [273000 shares]	$1,385,000
Retained earnings	$455,000
Total Stockholder's Equity	$1,840,000
Partial Balance Sheet
as at Sept 30
Stockholder's Equity
Paid in Capital
Capital Stock:
Common Stock [289380 shares]	$1,385,000
Retained earnings [455000 - 16380 stock dividend]	$438,620
Total Stockholder's Equity	$1,823,620
Partial Balance Sheet
as at Mar 31
Stockholder's Equity
Paid in Capital
Capital Stock:
Common Stock [289380 shares]	$1,385,000
Retained earnings [438620 - 144500 cash dividend]	294120
Total Stockholder's Equity	$1,679,120

Working for your refrence
	No. of shares	Cumm No. of Sahre	Amount	Cash Dividend	Stock Dividend
Beg Bal	91000	91000	$1,385,000	$0	$0
1-Feb	-	91000	$0	$91,000 [91000 shares x $1]	$0
1-Apr	182,000 [273000 – 91000]	273,000 [91000 x 3/1 split ratio]	$0	$0	$0
1-Jul	16380 [273000 x 6%]	289380	$0	$0	$163800 [16380 shares x $ 10]
1-Dec	-	289380	$0	$144500[289380 shares x $ 0.5]	$0