MC Qu. 11-132 Pettygrove Company had... Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $22,000,000 $25,300,000 $11,000,000 $16,500,000

MC Qu. 11-132 Pettygrove Company had... Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $22,000,000 $25,300,000 $11,000,000 $16,500,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If the company had a2:1 stock split on it's common stock would retained earnings increase decrease or stay the same?
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se Home Help Stock split versus stock dividend-Firm Mammoth Corporation is considering a 3-for-2 stock split. It currently has the stockholders' equity position shown. The current stock price is $120 per share. The most recent period's earnings available for common stock is included in retained earnings. $ 1,000,000 700,000 1,700,000 Preferred stock Common stock (140,000 shares at $5 par) Paid-in capital in excess of par Retained earnings gnments 10,000,000 dy Plan Total stockholders' equity $13,400,000 a. What effect on Mammoth's equity account would result from the stock split? b. What chanqe in stock price would you expect to result from the stock split? ults arson eText a. If the firm declares a 3-for-2 stock split, the new balance in the common stock account after the split is $ (Round to the nearest dollar.) ltimedia Librai nancial Calculat napter Resource Enter vour answer in the answer box and then click Check Answer. ynamic Study Modules 16 parts remaining Clear All Check…
A company issued 220 shares of $100 par value common stock for $26,200 cash. The total amount of paid-in capital in excess of par is: Multiple Choice $100. $2,200. $4,200. 633 PM 3/28/2022
Dividends Andrews Company has $95,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 20,000 shares of $10 par common stock outstanding. The preferred stock is selling for $100 per share, and the common stock is selling for $20 per share. Required 1. Determine the amount of dividends to be paid to each class of shareholder for each of the following independent assumptions. If an amount box required no entry, leave it blank. a. Preferred stock is nonparticipating and noncumulative. Andrews Company Schedule of dividends to be paid Preferred Common Preferred dividend $ Remainder to common $ Total $ $ b. Preferred stock is nonparticipating and cumulative. Preferred dividends are 2 years in arrears at the beginning of the year. Andrews Company Schedule of dividends to be paid Preferred Common Dividends in arrears $ $ Current preferred dividend $ Remainder to common Total $ $…
Assume that a company has the following information: Common Stock Information: # of shares issued and outstanding Par value per share 20,000 $9 Stockholders' Equity section of the Balance Sheet: Common Stock $180,000 Additional Paid in Capital Retained Earnings Total Stockholders' Equity $3,000,000 $4,820,000 $8,000,000 The company has the option of EITHER announcing a 3:1 stock split OR declaring a 200% stock dividend. Fill in the blanks below to show the stockholders' equity balances under each of these options. After After Current 3:1 200% Situation Stock Split Stock Dividend Common Stock Information: # of shares issued and outstanding 20,000 Par value per share $9 Stockholders' Equity section of the Balance Sheet: Common Stock $180,000 Additional Paid in Capital $3,000,000 Retained Earnings $4,820,000 Total Stockholders' Equity $8,000,000 II IIII
A corporation has 71,868 shares of $36 par stock outstanding that has a current market value of $312 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately a.$17,967 b.$9 c.$78 d.$276
p/ 102. Down River Express has 5,000 shares of stock outstanding with a par value of $1.00 per share. The current market value of the firm is $390,000. The balance sheet shows a paid in surplus account value of $122,000 and retained earnings of $216,000. The company just announced a 2-for-1 stock split. What will the paid in surplus account balance be after the split?  A. $61,000 B. $112,000 C. $122,000 D. $183,000 E. $244,000
If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for S66,000
MC Qu. 11-153 A company has outstanding... A company has outstanding 13.50 million shares of $5.50 par common stock and 1.7 million shares of $4.70 par preferred stock. The preferred stock has an 9% dividend rate. The company declares $370,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference? Multiple Choice O Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 before the end of the current accounting period. Common stockholders will receive nothing. Preferred stockholders will receive $33,300 or 9% of the total dividends. Common stockholders will receive the remaining $336,700. Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 sometime in the future before common stockholders will receive anything. Preferred stockholders will receive the entire $370,000, but will receive nothing more relating to this dividend…
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