Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (50.20 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from financing activities Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Items Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $12 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $14 per share. After Cash Dividend After Stock Dividend After Stock Split Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Total stockholders' equity Before Any Dividends $ $ $ 64,000 1,940,000 840,000 $ $ 0 21,000 64,000 $ 0.2 S 64,000 0.20 $ 1,940,000 S 1,940,000 $ 840,000 $ 0.02 $ 1,940,000 $ $ 64,000 0.02 1,940,000 840,000
Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (50.20 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from financing activities Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Items Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $12 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $14 per share. After Cash Dividend After Stock Dividend After Stock Split Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Total stockholders' equity Before Any Dividends $ $ $ 64,000 1,940,000 840,000 $ $ 0 21,000 64,000 $ 0.2 S 64,000 0.20 $ 1,940,000 S 1,940,000 $ 840,000 $ 0.02 $ 1,940,000 $ $ 64,000 0.02 1,940,000 840,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Just prior to the end of the fiscal year, Biofuel Corporation reported the following information:
Common stock (50.20 par value)
Additional paid-in capital
Retained earnings
Treasury stock
Cash flows from financing activities
Required:
Complete the table below for each of the three following independent cases:
Note: Round "Par per share" answers to 2 decimal places.
Items
$ 64,000
1,940,000
840,000
Case 1: The board of directors declared a cash dividend of $0.02 per share.
Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $12 per share.
Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $14 per share.
Before Any After Cash
Dividends
Dividend
After Stock
Dividend
After Stock
Split
64,000
0.02
Common stock account
Par value per share
Shares outstanding
Additional paid-in capital
Retained earnings
Total stockholders' equity.
$
$
0
21,000
64,000 $
0.2 $
64,000
0.20 $
$
0.02 $
$ 1,940,000 S 1,940,000 $ 1,940,000 $ 1,940,000
$
840,000
$
840,000
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