Required information [The following information applies to the questions displayed below) Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 Apr11 30,2019 Paid-in eapitals Preferred atock, $120 par value, 6, eumulative, 100,000 shares authorired, 90,000 ahare ienued and outatanding Common atock, $6 par value, 600,000 mhares authorized, 390,000 and 370,000 shares lesued, respectively Additional paid-in capital Retained earninga Less Treanury common atock, at cost; 18,000 shares and 17,000 shares, respectively Total etockholders equity 610,800,000 010, 800,000 14,750,000 12,150,000 2,220,000 14,300,000 11,074, 000 1,632,000) B37,562,000 l56,000) F-1. Assume that on June 1 the market value of the common stock was $38 per share and that the board of directors declared a 5% stock dividend on the issued shares of common stock. Use the horizontal model to show the issuance of the stock dividend. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Required information [The following information applies to the questions displayed below) Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 Apr11 30,2019 Paid-in eapitals Preferred atock, $120 par value, 6, eumulative, 100,000 shares authorired, 90,000 ahare ienued and outatanding Common atock, $6 par value, 600,000 mhares authorized, 390,000 and 370,000 shares lesued, respectively Additional paid-in capital Retained earninga Less Treanury common atock, at cost; 18,000 shares and 17,000 shares, respectively Total etockholders equity 610,800,000 010, 800,000 14,750,000 12,150,000 2,220,000 14,300,000 11,074, 000 1,632,000) B37,562,000 l56,000) F-1. Assume that on June 1 the market value of the common stock was $38 per share and that the board of directors declared a 5% stock dividend on the issued shares of common stock. Use the horizontal model to show the issuance of the stock dividend. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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Required information
[The following information applies to the questions displayed below.)
Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets:
May 31, 2019
Nor11 30, 2019
Paid-in eapitalt
Preferred atock, $120 par value, 6, eumulative, 100,000 shares
authorired, 90,000 shares ienued and outatanding
Common atock, $6 par value, 600,000 hares authorized, 390,000 and
370, 000 shares lesued, respectively
Additional paid-in capital
Retained earninga
Lesst Treanury common atock, at cost; 18,000 shares and 17,000 shares,
respectively
Total stockholdera equity
$10,800,000
010,800,000
14,750, 000
12,150,000
2,220,000
14,300,000
11,074,000
1,532,000)
$37.562,000
l56,000)
F-1. Assume that on June 1 the market value of the common stock was $38 per share and that the board of directors declared a 5%
stock dividend on the issued shares of common stock. Use the horizontal model to show the issuance of the stock dividend. Indicate
the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Balance Sheet
Rev
Stockholders' Equity
Net Income
Assets
Liabilities
+ Retained earnings
+ Common stock
+ Additional paid-in capital](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96b650d0-94c1-4bf9-b8c8-281058250080%2F98cd212c-d9da-4e01-b96d-03c56e300782%2Fbbpp2qe6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:View previous attempt
Check my work
Required information
[The following information applies to the questions displayed below.)
Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets:
May 31, 2019
Nor11 30, 2019
Paid-in eapitalt
Preferred atock, $120 par value, 6, eumulative, 100,000 shares
authorired, 90,000 shares ienued and outatanding
Common atock, $6 par value, 600,000 hares authorized, 390,000 and
370, 000 shares lesued, respectively
Additional paid-in capital
Retained earninga
Lesst Treanury common atock, at cost; 18,000 shares and 17,000 shares,
respectively
Total stockholdera equity
$10,800,000
010,800,000
14,750, 000
12,150,000
2,220,000
14,300,000
11,074,000
1,532,000)
$37.562,000
l56,000)
F-1. Assume that on June 1 the market value of the common stock was $38 per share and that the board of directors declared a 5%
stock dividend on the issued shares of common stock. Use the horizontal model to show the issuance of the stock dividend. Indicate
the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Balance Sheet
Rev
Stockholders' Equity
Net Income
Assets
Liabilities
+ Retained earnings
+ Common stock
+ Additional paid-in capital
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