Homework Answers
1. Sharper Corporation
Stockholders' Equity section of the balance sheet
June 30.
| Common stock- $10 par value, 120,000 shares authorized 90,000 shares issued and outstanding | $900,000 |
| paid in capital in excess of par value, common stock | 250,000 |
| retained earnings (685,000-300,000) | 385,000 |
| Total stock holder's equity | $1,535,000 |
working:
60,000 share are already outstanding
par value per share = $600,000 value / 60,000 shares outstanding
=>$10 per share.
50% stock dividend means, number of new shares to be issued
=>60,000 shares * 50%
=>30,000 shares.
value of these 30,000 shares =30,000+$10
=>$300,000.
total share now = 60,000+30,000=>90,000
new value shares issued and outstanding
=>90,000 shares*$10 per share
=>$900,000..
new retained earnings = 685,000 existing retained earnings - 300,000 value of new shares
=>$385,000.
2 nd part:
| number of shares outstanding after distribution is made (60,000 + 30,000) | 90,000 shares |
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The following information applies to the questions displayed below.) On June 30, Sharper Corporation's stockholders' equity...
The following information applies to the questions displayed below.) On June 30, Sharper Corporation's stockholders' equity...
The following information applies to the questions displayed below.) On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $1,535,000 Required: (1) Prepare the updated stockholders' equity section after the...
Required information (The following information applies to the questions displayed below.] points On June 30, Sharper...
Required information (The following information applies to the questions displayed below.] points On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 58,000 shares issued and outstanding $ 580,000 Paid-in capital in excess of par value, common stock 240,000 Retained earnings 680,000 Total stockholders' equity $1,500,000 Required: (1) Prepare the updated stockholders' equity...
Use the following information for the Exercises below. [The following information applies to the questions displayed...
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 200,000 660,000 $1,360,000 Exercise 13-6...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 64,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 640,000 270,000 695,000 $1,605,000 Exercise 11-7 Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 70,000 shares issued and outstanding$ 700,000Paid-in capital in excess of par value, common stock300,000Retained earnings710,000Total stockholders' equity$ 1,710,000Exercise 13-7 Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required: (1) Prepare the updated stockholders' equity section after the...
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HulldSll assets 1 the slock in exchange for the land and building. On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. After the distribution is made, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Exercise 13-6 Large stock dividend 1 Common stock-$10 par value, 50,000 shares issued and outstanding Paid-in capital in...
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On June 30, 2017, Sharper Corporation's common stock is priced at $26.00 per share before any...
On June 30, 2017, Sharper Corporation's common stock is priced at $26.00 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,eee 100,000 500.000 $1,eee eee 1. Assume that the company declares and immediately distributes a 100% stock dividend. This event...
The following information applies to the questions displayed below.) On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $1,535,000 Required: (1) Prepare the updated stockholders' equity section after the...
Required information (The following information applies to the questions displayed below.] points On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 58,000 shares issued and outstanding $ 580,000 Paid-in capital in excess of par value, common stock 240,000 Retained earnings 680,000 Total stockholders' equity $1,500,000 Required: (1) Prepare the updated stockholders' equity...
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 200,000 660,000 $1,360,000 Exercise 13-6...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 64,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 640,000 270,000 695,000 $1,605,000 Exercise 11-7 Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock...
HulldSll assets 1 the slock in exchange for the land and building. On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. After the distribution is made, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Exercise 13-6 Large stock dividend 1 Common stock-$10 par value, 50,000 shares issued and outstanding Paid-in capital in...
In Draco Corporation's first year of business, the following transactions affected its equity accounts. • Issued 6,800 shares of $2 par value common stock for $46. It authorized 20,000 shares. • Issued 1,700 shares of 12%, $10 par value preferred stock for $51. It authorized 3,000 shares. • Reacquired 340 shares of common stock for $58 each. • Retained earnings is impacted by reported net income of $78,000 and cash dividends of $29,000, Prepare the stockholders' equity section of Draco's...
Required information Use the following information for the Exercises below. {The following information applies to the questions displayed below.) York's outstanding stock consists of 60,000 shares of noncumulative 70% preferred stock with a $5 par value and also 210,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. $ Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash...
P1 the stock in exchange for the lar On June 30, 2017, Sharper Corporation's common stock is priced at $62 per share before any stock divi- d splits dend or split, and the stockholders' equity section of its balance sheet appears as follows Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding $ 500,000 200,000 660,000 Paid-in capital in excess of par value, common stock Retained earnings $1,360,000 Total stockholders' equity 1. Assume that the company declares...
On June 30, 2017, Sharper Corporation's common stock is priced at $26.00 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,eee 100,000 500.000 $1,eee eee 1. Assume that the company declares and immediately distributes a 100% stock dividend. This event...
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