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Splish Company provides you with the following condensed balance sheet information: Current assets Equity investments Equipment (net) Intangibles Total assets Current and long-term liabilities Stockholders' equity Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity (1) (2) (3) (4) (5) For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) c. Splish declares and issues a 20% stock dividend when the market price of the stock is $15 per share. (1) (2) Liabilities and Stockholders' Equity (3) E (5) Assets Total assets Common stock Paid-in capital in excess of par Retained earnings Total stockholders' equity Total assets Common stock $21,000 103,100 194,400 Paid-in capital in excess of par Retained earnings Total stockholders' equity no effect increase increase decrease no effect decrease d. Splish declares and distributes a property dividend. Splish gives one share of its equity investment (ABC stock) for every two shares of Splish Company stock held. Splish owns 9,600 shares of ABC. ABC is selling for $11 per share on the date the property dividend is declared. no effect $43,300 57,600 248,800 62,900 $412,600 no effect $94,100 decrease 318,500 $412,600 decrease $ $ $ $ $ $ $ $ 0 $ 4200 8400 12600 52800 0 0 52800 52800

Splish Company provides you with the following condensed balance sheet information: Current assets Equity investments Equipment (net) Intangibles Total assets Current and long-term liabilities Stockholders' equity Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity (1) (2) (3) (4) (5) For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) c. Splish declares and issues a 20% stock dividend when the market price of the stock is $15 per share. (1) (2) Liabilities and Stockholders' Equity (3) E (5) Assets Total assets Common stock Paid-in capital in excess of par Retained earnings Total stockholders' equity Total assets Common stock $21,000 103,100 194,400 Paid-in capital in excess of par Retained earnings Total stockholders' equity no effect increase increase decrease no effect decrease d. Splish declares and distributes a property dividend. Splish gives one share of its equity investment (ABC stock) for every two shares of Splish Company stock held. Splish owns 9,600 shares of ABC. ABC is selling for $11 per share on the date the property dividend is declared. no effect $43,300 57,600 248,800 62,900 $412,600 no effect $94,100 decrease 318,500 $412,600 decrease $ $ $ $ $ $ $ $ 0 $ 4200 8400 12600 52800 0 0 52800 52800

FINANCIAL ACCOUNTING
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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Splish Company provides you with the following condensed balance sheet information: Current assets Equity investments Equipment (net) Intangibles Total assets Current and long-term liabilities Stockholders' equity Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity (1) (2) (3) (4) For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) (5) c. Splish declares and issues a 20% stock dividend when the market price of the stock is $15 per share. (1) (2) Liabilities and Stockholders' Equity (3) E (5) Assets Total assets Common stock Paid-in capital in excess of par Retained earnings Total stockholders' equity Total assets Common stock $21,000 103,100 194,400 Paid-in capital in excess of par Retained earnings Total stockholders' equity no effect increase increase decrease no effect decrease d. Splish declares and distributes a property dividend. Splish gives one share of its equity investment (ABC stock) for every two shares of Splish Company stock held. Splish owns 9,600 shares of ABC. ABC is selling for $11 per share on the date the property dividend is declared. no effect $43,300 57,600 248,800 62,900 $412,600 no effect $94,100 decrease 318,500 $412,600 decrease $ $ $ $ $ $ $ $ 0 $ 4200 8400 12600 52800 0 0 52800 52800
Transcribed Image Text:Splish Company provides you with the following condensed balance sheet information: Current assets Equity investments Equipment (net) Intangibles Total assets Current and long-term liabilities Stockholders' equity Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity (1) (2) (3) (4) For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) (5) c. Splish declares and issues a 20% stock dividend when the market price of the stock is $15 per share. (1) (2) Liabilities and Stockholders' Equity (3) E (5) Assets Total assets Common stock Paid-in capital in excess of par Retained earnings Total stockholders' equity Total assets Common stock $21,000 103,100 194,400 Paid-in capital in excess of par Retained earnings Total stockholders' equity no effect increase increase decrease no effect decrease d. Splish declares and distributes a property dividend. Splish gives one share of its equity investment (ABC stock) for every two shares of Splish Company stock held. Splish owns 9,600 shares of ABC. ABC is selling for $11 per share on the date the property dividend is declared. no effect $43,300 57,600 248,800 62,900 $412,600 no effect $94,100 decrease 318,500 $412,600 decrease $ $ $ $ $ $ $ $ 0 $ 4200 8400 12600 52800 0 0 52800 52800
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