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 15-08
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sheet information:
Assets
Current assets
$ 43,100
Equity investments
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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
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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,...
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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...
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