Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer fast all requirements are attached thanks Data table Requirements 1. Journalize the declaration and distribution of the stock dividend 2. Prepare the stockholders'

please answer fast all requirements are attached thanks
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Data table Requirements 1. Journalize the declaration and distribution of the stock dividend 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend 3. Why is total stockholders' equity unchanged by the stock dividend? 4. Suppose Dairy Top had a cash balance of $560,000 on September 15,2019 . What is the maximum amount of cash dividends the company can declare? The stockholders' equity section of the balance sheet for Dairy Top Corporation on September 14, 2019, follows (Click the icon to view the data.) On September 14, 2019, the market price of Dairy Top common stock was $19 per share. Dairy Top declared and distributed a 12% stock dividend on this date. Read the requirements. Requirement 1, Journalize the declaration and distribution of the 12% stock dividend (Record debits first, then credits. Exclude explanations from any journal entries) Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet Use parentheses or a minus sign for numbers to be subtracted) Requirement 2. Prepare the stockholders' equity section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for numbers to be subtracted) Balance Sheet (Partial) Stockholders' Equity. shares Total paid-in capital Total stockholders' equity Requirement 3. Why is total stockholders' equity unchanged by the stock dividend? The stock dividend did not change total stockholders' equity because the company gave its shareholders The company merely Requirement 4. Suppose DT had a cash balance of $560,000 on September 15,2019 . What is the maximum amount of cash dividends the company can declare? DT's maximum cash dividends

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

Environmental Audits

Authors: Cliff VanGuilder

1st Edition

1938549600, 978-1938549601

More Books

Students also viewed these Accounting questions

Question

Distinguish between the fovea centralis and the optic disc.

Answered: 1 week ago