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This picture below is the informationumbers to the rest of the questions! On January 1, Payson Inc. had a retained earnings balance of $50,000. During
This picture below is the informationumbers to the rest of the questions!
On January 1, Payson Inc. had a retained earnings balance of $50,000. During the year, Payson reported net income of $33,000 and paid cash dividends of $20,000. Calculate the retained earnings balance at its December 31 year-end Ending retained earnings Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 78,000 shares issued and outstanding 780,000 340,000 Paid-in capital in excess of par value, common stock Retained earnings 730,000 $1,850,000 Total stockholders' equity Required: (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Total stockholders' equity Required: (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the distribution is made. Number of common shares outstanding Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Total stockholders' equity $ Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the split. Number of common shares outstandingStep by Step Solution
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