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I need this within the hour. Worksheet attached for accounting problems On October 31, the stockholders' equity section of Cullumber Company's balance sheet consists of
I need this within the hour. Worksheet attached for accounting problems
On October 31, the stockholders' equity section of Cullumber Company's balance sheet consists of common stock $558,000 and retained earnings $403,000. Cullumber is considering the following two courses of action: (1) Declaring a 6% stock dividend on the 93,000 $6 par value shares outstanding (2) Effecting a 2-for-1 stock split that will reduce par value to $3 per share. The current market price is $17 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Cullumber Company's Balance Sheet Before After Stock Action Dividend After Stock Split Stockholders' equity Paid-in capital $ $ $ $ $ $ Retained earnings Total stockholders' equity Outstanding shares On January 1, Indigo Corporation had 63,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. 1 June 15 July 10 Dec. 1 Dec. 15 Issued 18,450 additional shares of common stock for $13 per share. Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. Issued 8,200 additional shares of common stock for $13 per share. Declared a cash dividend on outstanding shares of $1.90 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Account Titles account titles and enter 0 for the amounts.) Entry" for the and Date Debit Credit Explanation Wells Fargo & Company, headquartered in San Francisco, is one of the nation's largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2017. Retained earnings Preferred stock Common stock$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares Treasury stock67,346,829 common shares Paid-in capital in excess of par valuecommon stock Accumulated Other Comprehensive Income Prepare the stockholders' equity section of the balance sheet for Wells Fargo as of December 31, 2017. (Enter account name only and do not provide descriptive information.) WELLS FARGO & COMPANY Partial Balance Sheet (in millions) $ $ $41,400 : $ Exercise 11-11 The following financial information is available for Riverbed Corporation. (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 2017 $3,340 315 40 595 2016 $3,410 650 40 640 Calculate the payout ratio and return on common stockholders' equity ratio for 2017 and 2016. (Round answers to 1 decimal place, e.g. 12.5%) 2017 2016 Payout ratio % % Return on common stockholders' equity % % Exercise 11-12 Suppose the following financial information is available for Walgreen Company. (in millions) Average common stockholders' equity 2017 $12,960.0 2016 $11,660.0 Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 530 0 1,880 375 0 2,180 Calculate the payout ratio and return on common stockholders' equity for 2017 and 2016. (Round answers to 1 decimal place, e.g. 12.5%.) 2017 2016 Payout ratio % % Return on common stockholders' equity % %Step by Step Solution
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