Question
A firm's balance sheet has the following entries: Cash $ 7,000,000 Total liabilities 25,000,000 Common stock ($5 par; 1,900,000 shares outstanding) 9,500,000 Additional paid-in capital
A firm's balance sheet has the following entries:
Cash | $ | 7,000,000 |
Total liabilities | 25,000,000 | |
Common stock ($5 par; 1,900,000 shares outstanding) | 9,500,000 | |
Additional paid-in capital | 2,850,000 | |
Retained earnings | 38,000,000 |
What will be each of these balance sheet entries after:
-
a four-for-one stock split? Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar.
Cash $ Total liabilities $ Common stock ($ par; shares outstanding) $ Additional paid-in capital $ Retained earnings $ -
a $1.25 per share cash dividend? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar.
Cash $ Total liabilities $ Common stock ($ par; shares outstanding) $ Additional paid-in capital $ Retained earnings $ -
a 10 percent stock dividend (current price of the stock is $17 per share)? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar.
Cash $ Total liabilities $ Common stock ($ par; shares outstanding) $ Additional paid-in capital $ Retained earnings $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started