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At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below. Required 1 Required 3 Complete the following table: Contributed capital: Common stock $ 468,000 121,000 748,000 Additional paid-in capital Retained earnings Total stockholders' equity SOLUTIONS CORPORATION Balance Sheet (Partial) At February 1, This Year Stockholders' Equity Before Stock Dividend After Stock Dividend Required 1 Required 3 >

At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below. Required 1 Required 3 Complete the following table: Contributed capital: Common stock $ 468,000 121,000 748,000 Additional paid-in capital Retained earnings Total stockholders' equity SOLUTIONS CORPORATION Balance Sheet (Partial) At February 1, This Year Stockholders' Equity Before Stock Dividend After Stock Dividend Required 1 Required 3 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below. Required 1 Required 3 Complete the following table: $ 468,000 121,000 748,000 Contributed capital: Common stock Additional paid-in capital Retained earnings Total stockholders' equity SOLUTIONS CORPORATION Balance Sheet (Partial) At February 1, This Year Stockholders' Equity Before Stock Dividend After Stock Dividend < Required 1 Required 3 >
Transcribed Image Text:At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below. Required 1 Required 3 Complete the following table: $ 468,000 121,000 748,000 Contributed capital: Common stock Additional paid-in capital Retained earnings Total stockholders' equity SOLUTIONS CORPORATION Balance Sheet (Partial) At February 1, This Year Stockholders' Equity Before Stock Dividend After Stock Dividend < Required 1 Required 3 >
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