A firm has the following items on its balance sheet Cash $ 20,000,000 Inventory $134,000,000 Notes payable to bank $ 31,500,000 Common Stock ($10 par 1,000,000 shares outstanding) $ 10,000,000 Retained earnings $ 98,000,000 Describe how each of these accounts would appear after A cash dividend of $...

Cash 20000000 Common stock 10 par 1000000 ...

A firm has the following items on its balance sheet: Cash $ 20,000,000 Inventory $134,000,000 Notes payable

Question:

A firm has the following items on its balance sheet: Cash $ 20,000,000 Inventory $134,000,000 Notes payable to bank $ 31,500,000 ($10 par; 1,000,000 shares outstanding) $ 10,000,000 Retained earnings $ 98,000,000 Describe how each of these accounts would appear after:
A cash of $1 per share
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...