Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, Biofuel Corporation had the following capital structure: Common stock ($0.10 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from

image text in transcribed

On January 1, Biofuel Corporation had the following capital structure: Common stock ($0.10 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from financing activities $ 63,000 1,930,000 830,000 20,500 Required: Complete the table below for each of the three following independent cases (Round "Par per share" answers to 2 decimal places.): Case 1: The board of directors declared a cash dividend of $0.01 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $13 per share. Items After Cash Dividend After Stock Dividend After Stock Split Before any Dividend $ 63,000 $ 0.1 Common stock account Par per share Shares outstanding Additional paid-in captial Retained earnings Total stockholder's equity Cash flows from financing acitivities $ $ 630,000 1,930,000 830,000 $ 20,500

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

Principles Of Cost Accounting

Authors: Edward J. Vanderbeck

12th Edition

0324100949, 978-0324100945

More Books

Students also viewed these Accounting questions

Question

How often do you meet with your graduate students?

Answered: 1 week ago

Question

Understand developments in knowledge creation and management

Answered: 1 week ago

Question

Explain key ideas of workplace learning

Answered: 1 week ago

Question

Explain how HRD may be implemented

Answered: 1 week ago