Beacon Corporation issued a 6 percent stock dividend on 33,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $22 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. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA) activity (IA), or financing activity (FA). Not all cells require input. Assets Cash = Liabilities + + Balance Sheet Common Stock BEACON CORPORATION Horizontal Statements Model Stockholders' Equity Paid In + Capital in Excess + + Retained Earnings Revenue Income Statement Expense = Net Income Statement of Cash Flow
Beacon Corporation issued a 6 percent stock dividend on 33,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $22 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. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA) activity (IA), or financing activity (FA). Not all cells require input. Assets Cash = Liabilities + + Balance Sheet Common Stock BEACON CORPORATION Horizontal Statements Model Stockholders' Equity Paid In + Capital in Excess + + Retained Earnings Revenue Income Statement Expense = Net Income Statement of Cash Flow
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Beacon Corporation issued a 6 percent stock dividend on 33,000 shares of its $7 par common stock. At the time of the dividend, the
market value of the stock was $22 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.
Complete this question by entering your answers in the tabs below.
Required A Required B
Show the effects of the stock dividend on the financial statements using a horizontal statements model.
Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA)
activity (IA), or financing activity (FA). Not all cells require input.
Assets = Liabilities
Cash
II
+
+
Balance Sheet
Common
Stock
BEACON CORPORATION
Horizontal Statements Model
Stockholders' Equity
Paid In
+ Capital in +
Excess
+
+
Retained
Earnings
Revenue
Income Statement
Expense
Net Income
Statement of Cash
Flow
Transcribed Image Text:Beacon Corporation issued a 6 percent stock dividend on 33,000 shares of its $7 par common stock. At the time of the dividend, the
market value of the stock was $22 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.
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 A
Required B >
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