A firm's balance sheet has the following entries: Cash Total liabilities Common stock ($6 par; 1,700,000 shares outstanding) Additional paid-in capital Retained earnings What will be each of these balance sheet entries after: a. a four-for-one stock split? Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings par; b. a $1.75 per share cash dividend? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings $14,000,000 34,000,000 10,200,000 2,550,000 38,000,000 par; shares outstanding) par; shares outstanding) c. a 10 percent stock dividend (current price of the stock is $12 per share)? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. $ $ $ $ $ shares outstanding) $ $ $ $ $ $ $ $ $
A firm's balance sheet has the following entries: Cash Total liabilities Common stock ($6 par; 1,700,000 shares outstanding) Additional paid-in capital Retained earnings What will be each of these balance sheet entries after: a. a four-for-one stock split? Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings par; b. a $1.75 per share cash dividend? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Cash Total liabilities Common stock ($ Additional paid-in capital Retained earnings $14,000,000 34,000,000 10,200,000 2,550,000 38,000,000 par; shares outstanding) par; shares outstanding) c. a 10 percent stock dividend (current price of the stock is $12 per share)? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. $ $ $ $ $ shares outstanding) $ $ $ $ $ $ $ $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A firm's balance sheet has the following entries:
Cash
Total liabilities
Common stock ($6 par; 1,700,000 shares outstanding)
Additional paid-in capital
Retained earnings
What will be each of these balance sheet entries after:
Cash
Total liabilities
Common stock ($
Additional paid-in capital
Retained earnings
a. a four-for-one stock split? Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar.
Cash
Total liabilities
Common stock ($
Additional paid-in capital
Retained earnings
par;
Cash
Total liabilities
Common stock ($
Additional paid-in capital
Retained earnings
$14,000,000
34,000,000
10,200,000
par;
2,550,000
38,000,000
b. a $1.75 per share cash dividend? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers.
to the nearest dollar.
par;
shares outstanding)
shares outstanding)
$
c. a 10 percent stock dividend (current price of the stock is $12 per share)? Use the original balance sheet from the problem statement. Round the par value to the nearest cent, the number of shares outstanding to the
nearest whole number, and the other answers to the nearest dollar.
$
$
shares outstanding)
$
$
$
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