Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. 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 $15 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $30 per share.
Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. 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 $15 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $30 per share.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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Question
![Just prior to the end of the fiscal year, Biofuel Corporation reported the following information:
Common stock ($0.50 par value)
Additional paid-in capital
$ 80,000
2,100,000
1,000,000
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.
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 $15 per
share.
Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $30 per share.
Items
After Cash
Dividend
After Stock After Stock
Dividend
Split
Common stock account
Par value per share
Shares outstanding
Additional paid-in capital
Retained earnings
Total stockholders' equity
Cash flows from financing activities
Before Any
Dividends
$
$
80,000
0.5
29,000
$ 2,100,000
$ 1,000,000
$ 29,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff167343a-1ff3-430f-a624-bd98f28524c6%2F362b1fc1-0ab1-4493-9d27-0e10564b43a0%2Fb9gbewb1_processed.png&w=3840&q=75)
Transcribed Image Text:Just prior to the end of the fiscal year, Biofuel Corporation reported the following information:
Common stock ($0.50 par value)
Additional paid-in capital
$ 80,000
2,100,000
1,000,000
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.
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 $15 per
share.
Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $30 per share.
Items
After Cash
Dividend
After Stock After Stock
Dividend
Split
Common stock account
Par value per share
Shares outstanding
Additional paid-in capital
Retained earnings
Total stockholders' equity
Cash flows from financing activities
Before Any
Dividends
$
$
80,000
0.5
29,000
$ 2,100,000
$ 1,000,000
$ 29,000
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