Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The stockholders' equity section of the balance sheet for cy Pop Corporation on April 15, 2019 follows: Click the icon to view the data.) On
The stockholders' equity section of the balance sheet for cy Pop Corporation on April 15, 2019 follows: Click the icon to view the data.) On April 15, 2019, the market price of Icy Pop common stock was $20 per share. Icy Pop declared and distributed a 9x stock dividend on this date Read the requirements. Data table Requirement 1. Journalize the declaration and cistribution of the 9% slock dividerid. (Record debils first, then credils. Exclude explanations from any journal entries.) Joumal Entry Date Accounts Debit Credit Aori 15 II II Stockholders' Equity Cortion slack, 80.35 par. 2,800,000 shares authorized, 900,000 shares issued Paid-in capital in excess of par-common Retained earnings Accumulated other comprehensive Income (los) Total stockholders' equity Requirement 2. Prepare the stockholders' equily section of the balance sheet after the stock dividend. (Enter the accounts in the proper order for the stockholders' equily section of the Balance Sheet(Partial) Stockholders' Equity $ nar shones shares 315,000 1937.280 7777 000 (210,000 S81928:1 Print Done Total paid-in capita Total stockholders' Equity Requirement 3. Why is total stockholders'equily unchanged by the stock dividend? The stock dividend did not change total stockholders equity Lecause the company gave its stareholders 1. The company inaraly Requirement 4. Suppose I had a cash balance of 5560,000 on April 16, 2019. What is the maximum amount of cash dividende the company can dedare? IP'e maximum cast dividende
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started