Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Company provides you with the following condensed balance sheet information: $ 39,500 61,200 265.900 63.700 $430,300 Assets Current assets Equity investments Equipment (net) Intangibles

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Crane Company provides you with the following condensed balance sheet information: $ 39,500 61,200 265.900 63.700 $430,300 Assets Current assets Equity investments Equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Current and long-term liabilities Stockholders' equity Common stock (55 par $ 20,900 Pald-in capital in excess ot par 108,100 Retained earnings 203.800 Totallabilities and stockholders equity $97.500 332.800 $430,300 For each of the following transactions, indicate the dollar impact of any on the following five items (t) total assets. (2) common 720 PM For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets. (2) common stock (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders'equity. (Each situation is independent) (a) Crane declares and pays a $0.55 per share cash dividend. (1) $ (2) $ (3) Total assets Common stock Paid-in capitalin excess of par Retained earnings Total stockholders equity v $ $ 4 ) 15 (b) Crane declares and issues a 10% stock dividend when the market price of the stock is $13 per share. Total assets $ (2) (3) $ (5) (c) Crane declares and issues a 30% stock dividend when the market price of the stock is $15 per share. (1) Total assets $ 121 Common stock $ 131 Paid-in capital in excess of par S (d) Crane declares and distributes a property dividend. Crane gives one share of its equity investment (ABC stock) for every two shares of Crane Company stock held. Crane owns 10,200 shares of ABC. ABC is selling for $10 per share on the date the property dividend is declared. Total assets $ (2) (3) Common stock Paid-in capital in excess of par Retained earnings $ $ $ (5) Total stockholders' equity $ (e) Crane declares a 2-for-1 stock split and issues new shares (1) Total assets $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Reporting Und Behavioral Accounting Verhaltenswirkungen Des Berichtswesens Im Unternehmen

Authors: Andreas Taschner

2nd., 2nd. Auflage Aufl. 2019 Edition

3658234911, 978-3658234911

More Books

Students also viewed these Accounting questions