Assets &nb
Assets Liabilities and Stockholders’ Equity
|
Current assets |
$ 78,000 |
Current and long-term liabilities $120,000 |
||
|
Equity investments (Liquid Co stock; |
Stockholders’ equity |
|||
|
40,000 shares at cost) |
124,000 |
Common stock ($1 par) |
$ 41,000 |
|
Equipment (net) 189,000 Paid-in capital in excess of par 189,000
Intangibles 90,000 Retained earnings 131,000
361,000
Total assets $481,000 Total liabilities and SE $481,000
Instructions
For each transaction below record the journal entry:
- Wellington declares and distributes a property dividend. Wellington gives one share of Liquid Co. stock for every four shares of Wellington Company stock held. Liquid Co. is selling for $3.50 per share on the date the property dividend is declared.
- Wellington declares and issues a 15% stock dividend when the market price of the stock is $8 per share.
- Wellington declares and issues a 40% stock dividend when the market price of the stock is $7 per share.
- Wellington declares a 2-for-1 stock split and issues new shares.
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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...
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)...
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)...
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 15-08 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:...
Bonita Company provides you with the following condensed balance sheet information: $ 42,600 58,800 247,500 64,100...
Bonita Company provides you with the following condensed balance sheet information: $ 42,600 58,800 247,500 64,100 $413,000 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) $ 20,500 Paid-in capital in excess of par 114,600 Retained earnings 173,100 Total liabilities and stockholders' equity $104,800 308.200 $413,000 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total...
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,...
The stockholders' equity section of Jun Co.'s balance sheet as of April 1 follows. On April...
The stockholders' equity section of Jun Co.'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 dividend). Common stock-$5 par value, 395,000 shares authorized, 210,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,050,000 510,000 843,000 $2,403,000 Prepare the stockholders' equity section immediately after the stock dividend...
The stockholders' equity section of Jun Co.'s balance sheet as of April 1 follows. On April...
The stockholders' equity section of Jun Co.'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 $15 (prior to the dividend). Common stock-55 par value415,000 shares authorised, 220,000 shares osed and outstanding Tald.in capital in excess of par value, c on stock Retained earnings Total stockholders' equity $1.100.000 530.000 053,000 $2.40.000 mo Prepare the stockholders' equity section Immediately after the stock...
PS STUDENT NIGHTp ewconnectmheducatRHALEN Company Z has 215 million shares of common stock authorized with a...
PS STUDENT NIGHTp ewconnectmheducatRHALEN Company Z has 215 million shares of common stock authorized with a par value of $1 and a market price of $53. There are 1075 million outstanding shares and 26875 million shares held in treasury stock Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend b. Show the effect of the stock dividend on assets abes, and stockholders' equity Prepare the journal entry of the company declares and distributes...
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)...
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)...
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 15-08
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:...
Bonita Company provides you with the following condensed balance sheet information: $ 42,600 58,800 247,500 64,100 $413,000 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) $ 20,500 Paid-in capital in excess of par 114,600 Retained earnings 173,100 Total liabilities and stockholders' equity $104,800 308.200 $413,000 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total...
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,...
The stockholders' equity section of Jun Co.'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 dividend). Common stock-$5 par value, 395,000 shares authorized, 210,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,050,000 510,000 843,000 $2,403,000 Prepare the stockholders' equity section immediately after the stock dividend...
The stockholders' equity section of Jun Co.'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 $15 (prior to the dividend). Common stock-55 par value415,000 shares authorised, 220,000 shares osed and outstanding Tald.in capital in excess of par value, c on stock Retained earnings Total stockholders' equity $1.100.000 530.000 053,000 $2.40.000 mo Prepare the stockholders' equity section Immediately after the stock...
PS STUDENT NIGHTp ewconnectmheducatRHALEN Company Z has 215 million shares of common stock authorized with a par value of $1 and a market price of $53. There are 1075 million outstanding shares and 26875 million shares held in treasury stock Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend b. Show the effect of the stock dividend on assets abes, and stockholders' equity Prepare the journal entry of the company declares and distributes...
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