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The question has 4 parts... please complete all and Ill give thumbs up! Thanks! The stockholders' equity section of the balance sheet for Yarrow Yogurt
The question has 4 parts... please complete all and Ill give thumbs up! Thanks!
The stockholders' equity section of the balance sheet for Yarrow Yogurt Company on August 12, 2019. follows: (Click the icon to view the data.) On August 12, 2019, the market price of Yarrow common stock was $18 per share. Yarrow declared and distributed a 10% stock dividend on this date. Read the requirements Requirement 1. Journalize the declaration and distribution of the 10% stock dividend. (Record debits first, then credits. Exclude explanations from any joumal entries.) Journal Entry Date Accounts Debit Credit August 12 Data Table $ Stockholders' Equity Common stock, $0.20 par, 2,600.000 shares authorized, 500,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity 100,000 1,076,267 7,144,000 (180,000) $ 8,140,267 Print Done 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 Yarrow had a cash balance of $540,000 on August 13, 2019. What is the maximum amount of cash dividends the company can declare? Choose from any list or enter any number in the ing 3 Print Done parts remainingStep by Step Solution
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