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Stock Dividend computation Number of common stock to be issued $ value of the each common stock issued Total $ value of the stock distribution, of which: Par value per share $ credited to common stock account (par value) $ credited paid in capital in excess of par Stock split computation Number of shares before the split Par value per share before the split Total par value of the common stock before the split Number of shares after the split Par value per share after the split Total par value of the common stock after the split

Stock Dividend computation Number of common stock to be issued $ value of the each common stock issued Total $ value of the stock distribution, of which: Par value per share $ credited to common stock account (par value) $ credited paid in capital in excess of par Stock split computation Number of shares before the split Par value per share before the split Total par value of the common stock before the split Number of shares after the split Par value per share after the split Total par value of the common stock after the split

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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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Textbook Ref LO 14.3 Aggregate Mining Corporation was incorporated five years ago. It is also authorized to issue 750,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares. In its sixth year, the corporation has the following transactions: A: 3/1/2023 Declares a cash dividend of $2 per share B: 3/30/2023 Pays the cash dividend C: 7/10/2023 Declares a 5% stock dividend when the stock is trading at $15 per share D: 8/5/2023 Issues the stock dividend E: 9/10/2023 Declares a 3-for-1 stock split of its common shares F: Journalize the transactions G: For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the split Computations A C E/G Part F Date A: 3/1/2023 B: 3/30/2023 C: 7/10/2023 D: 8/5/2023 Cash Dividend computation # of shares outstanding $ cash dividend per share Total $ of cash dividend Stock Dividend computation Number of common stock to be issued $value of the each common stock issued Total $value of the stock distribution, of which: Par value per share $ credited to common stock account (par value) $ credited paid in capital in excess of par Stock split computation Number of shares before the split Par value per share before the split Total par value of the common stock before the split Number of shares after the split Par value per share after the split Total par value of the common stock after the split Account Title Declares a cash dividend of $2 per share Pays the cash dividend Declares a 5% stock dividend when the stock is trading at $15 per share Issues the stock dividend Debit Credit
Transcribed Image Text:1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Textbook Ref LO 14.3 Aggregate Mining Corporation was incorporated five years ago. It is also authorized to issue 750,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares. In its sixth year, the corporation has the following transactions: A: 3/1/2023 Declares a cash dividend of $2 per share B: 3/30/2023 Pays the cash dividend C: 7/10/2023 Declares a 5% stock dividend when the stock is trading at $15 per share D: 8/5/2023 Issues the stock dividend E: 9/10/2023 Declares a 3-for-1 stock split of its common shares F: Journalize the transactions G: For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the split Computations A C E/G Part F Date A: 3/1/2023 B: 3/30/2023 C: 7/10/2023 D: 8/5/2023 Cash Dividend computation # of shares outstanding $ cash dividend per share Total $ of cash dividend Stock Dividend computation Number of common stock to be issued $value of the each common stock issued Total $value of the stock distribution, of which: Par value per share $ credited to common stock account (par value) $ credited paid in capital in excess of par Stock split computation Number of shares before the split Par value per share before the split Total par value of the common stock before the split Number of shares after the split Par value per share after the split Total par value of the common stock after the split Account Title Declares a cash dividend of $2 per share Pays the cash dividend Declares a 5% stock dividend when the stock is trading at $15 per share Issues the stock dividend Debit Credit
A Exercise Sheet 1 Sheet 3 Sheet 5 Total Learning Objective Topic LO 14.2 LO 14.3 LO 14.4 Stock Issue Computations Journal Entries Cash dividends, stock dividends and stock splits Computations Journal Entries Retained Earnings & Statement of SHE с Account Titles to use for this work Cash Property, Plant & Equipment Legal Expenses Common Stock Additonal Paid in capital - Common Stock Preferred Stock Additonal Paid in capital - Preferred Stock Treasury Stock Additonal Paid in capital - Treasury Stock Retained Earnings Points Possible Cash Dividends Payable Common Stock Dividend Distributable 28 28 15 23 6 1 100 E Instructions 1. DO NOT edit anything else but the color coded cells in the following manner Pick an option from the dropdown Inputs - Must be formatted as numbers Computations - Must use formulas References - Must refer to another cell in the same sheet 2. Make sure your work is formatted correctly as follows - cells with numerical values are right aligned, cells with text is left aligned 4. Use consistent font, font size and font color Points Earned 5. Numerical values should be formatted as appropriate, for example, dates, percentages and dollars should all be formatted as such 6. Your grade is not only for the accuracy of your accounting work, but also for using formulas, cell references and formatting correctly 0 G H
Transcribed Image Text:A Exercise Sheet 1 Sheet 3 Sheet 5 Total Learning Objective Topic LO 14.2 LO 14.3 LO 14.4 Stock Issue Computations Journal Entries Cash dividends, stock dividends and stock splits Computations Journal Entries Retained Earnings & Statement of SHE с Account Titles to use for this work Cash Property, Plant & Equipment Legal Expenses Common Stock Additonal Paid in capital - Common Stock Preferred Stock Additonal Paid in capital - Preferred Stock Treasury Stock Additonal Paid in capital - Treasury Stock Retained Earnings Points Possible Cash Dividends Payable Common Stock Dividend Distributable 28 28 15 23 6 1 100 E Instructions 1. DO NOT edit anything else but the color coded cells in the following manner Pick an option from the dropdown Inputs - Must be formatted as numbers Computations - Must use formulas References - Must refer to another cell in the same sheet 2. Make sure your work is formatted correctly as follows - cells with numerical values are right aligned, cells with text is left aligned 4. Use consistent font, font size and font color Points Earned 5. Numerical values should be formatted as appropriate, for example, dates, percentages and dollars should all be formatted as such 6. Your grade is not only for the accuracy of your accounting work, but also for using formulas, cell references and formatting correctly 0 G H
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