Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Firm A had the following selected Items on its balance sheet: Cash $ 31,000,000 Common stock ($60 par; 1,800,000 shares outstanding) 108,000,000 Additional paid in

image text in transcribed
Firm A had the following selected Items on its balance sheet: Cash $ 31,000,000 Common stock ($60 par; 1,800,000 shares outstanding) 108,000,000 Additional paid in capital 7,200,000 Retained earnings 65,000,000 How would each of these accounts appear after: 2. a cash dividend of $1.5 per share? Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar. Cash Common stock (5 par, shares outstanding) Additional paid-in capital Retained earnings $ $ $ b. a 6 percent stock dividend (fair market value is $120 per share)? Use the original balance sheet from the problem statement. Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar Cash $ Common stock ($ par; shares outstanding) $ Additional paid-in capital $ Retained earnings $ c. a one for two reverse split? Use the original balance sheet from the problem statement, Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar $ Cash Common stock ( Additional paid in capital Retained earnings par shares outstanding) $ $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

3rd edition

77826485, 978-0077722074, 77722078, 978-0077826482

Students also viewed these Finance questions