Beacon Corporation issued a 3 percent stock dividend on 37,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA). investing activity (A), or financing activity (FA). If an element was not affected by the event, leave the cell blank Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required

Beacon Corporation issued a 3 percent stock dividend on 37,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA). investing activity (A), or financing activity (FA). If an element was not affected by the event, leave the cell blank Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year.
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 50,000 shares 750,000 Аpг. 12,500 shares issued for cash 187,500 937,500 June 30 2,000-share stock dividend 30,000 967,500 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 200,000 Apr. 2 12,500 shares issued for cash 362,500 562,500 June 30 Stock dividend 22,500 585,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 623,000 June 30 Stock dividend 52,500 570,500 Dec. 30 Cash dividend 71,600 498,900 Dec. 31 Net income 448,600 947,500 If an amount is not reported on the…
Given the following data, what is the ending balance in the common stock account? 634,438 Total assets, ending Total liabilities, ending 321,286 69,495 32,445 279,868 180,251 Retained Earnings, ending Dividends declared Revenues Expenses Your Answer: Answer
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.
H2. Account
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 40,000 shares 800,000 Apr. 2 10,000 shares issued for cash 200,000 1,000,000 June 30 2,000-share stock dividend 40,000 1,040,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 160,000 Apr. 2 10,000 shares issued for cash 280,000 440,000 June 30 Stock dividend 30,000 470,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1…
S1. Account
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $40 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 120,000 shares 4,800,000 Apr. 30,000 shares issued for cash 1,200,000 6,000,000 June 30 4,400-share stock dividend 176,000 6,176,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 360,000 Apr. 30,000 shares issued for cash 720,000 1,080,000 June 30 Stock dividend 114,400 1,194,400 2. 1. 2.
Match (by letter) the following terms with their definitions. Each letter is used only once.Terms_____ 1. PE ratio._____ 2. Stockholders’ equity section of the balance sheet._____ 3. Accumulated deficit._____ 4. Growth stocks._____ 5. 100% stock dividend._____ 6. Statement of stockholders’ equity._____ 7. Treasury stock._____ 8. Value stocks._____ 9. Return on equity._____ 10. Retained earnings.Definitionsa. A debit balance in Retained Earnings.b. Priced high in relation to current earnings as investors expect future earnings to be higher.c. Effectively the same as a 2-for-1 stock split.d. The earnings not paid out in dividends.e. The stock price divided by earnings per share.f. Summarizes the changes in the balance in each stockholders’ equity account over a period of time.g. Priced low in relation to current earnings.h. Measures the ability of company management to generate earnings from the resources that owners provide.i. Shows the balance in each equity account at a point in…