The McLaughlin Corporation declared a 6 percent stock dividend. Constructa pro forma balance sheet showing the effect of this action. The stock wasselling for $37.50 per share, and a condensed version of McLaughlin's balancesheet as of December 31, 2008, before the dividend, follows ($ millions): CashOther assetsTotal assets$112.52,887.5$3,000.0DebtCommon stock (75 millionshares outstanding, $1 par)Paid-in capitalRetained earningsTotal liabilities and equity$1,500.075.0300.01,125.0$3.000.0

Stock dividend is a form of dividend distributable in the form of shares of the form. Instead of…

Answered: The McLaughlin Corporation declared a 6…

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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Wookie Inc. has the following shareholders equity information at the beginning of the year: 1000 shares-$5 par value, issued and outstanding: $5,000 Additional Paid-In Capital: $45,000 Retained Earnings: $15,000 Instead of a stock split, a 5% stock dividend is declared. What would the above amounts be after the stock dividend?
The company declared a 2% common stock dividend on December 1, and would like you to compute the following pieces of missing information. The market value of the common shares is $26 on December 1, and is $32 on the actual distribution date of the stock, December 31. Total paid-in capital before the stock dividend $fill in the blank 2ba5a8fc300a076_1 Total retained earnings before the stock dividend fill in the blank 2ba5a8fc300a076_2 Total stockholders’ equity before the stock dividend $fill in the blank 2ba5a8fc300a076_3 Total paid-in capital after the stock dividend $fill in the blank 2ba5a8fc300a076_4 Total retained earnings after the stock dividend fill in the blank 2ba5a8fc300a076_5 Total stockholders’ equity after the stock dividend $fill in the blank 2ba5a8fc300a076_6
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Marlin, Incorporated, declared a cash dividend of $40,500 in 2022 when the following stocks were outstanding: Common stock 20,100 shares, par $15 $301,500 Preferred stock, 6%, 2,600 shares, par $10 26,000 No dividends were declared or paid during the prior year. Required: Compute the amount of cash that would be paid to each stockholder group under each of the following separate cases. Show the amount of current dividend and dividends paid in arrears wherever applicable. Case A The preferred stock is noncumulative. Case B The preferred stock is cumulative.
Jeremiah Company had the following classes of shares outstanding as of December 31, 2020. Ordinary shares, ₱20 par value, 22,000 outstanding Preference shares, 6%, ₱100 par value, cumulative and fully participating, 1,100 shares were outstanding. The last payment of reference dividend was on December 31, 2018. On December 31, 2020, a total cash dividend of ₱99,000 was declared. What are the amounts of dividends payable on both the ordinary and preference shares?
At 30 June 2023, the board of directors of ABC Co. declared a final dividend of 10c per share on 60 000 ordinary shares. The dividend was paid in August 2023. Record the journal entry of payment of the dividend N Paragraph BIEE 四回 Path: p
Hello, How do I solve the 3 for 1 stock split?
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The statement of retained earnings of Gary Larson Publishers is presented below. GARY LARSON PUBLISHERSStatement of Retained EarningsFor the Year Ended December 31, 2016($ in millions)Retained earnings, January 1 $200Add: Net income 75Deduct: Cash dividend (25)Stock dividend (1 million shares of $1 par common stock) (16)Property dividend (Garfield Company preferred stock heldas a short-term investment) (12)Sale of treasury stock (cost $53 million) (10)Retained earnings, December 31 $212 Required: For the transactions that affected Larson’s retained earnings, reconstruct the journal entries for the transactions that affected retained earnings and that can be used to determine cash flows to be reported in a statement of cash flows. Also indicate any investing and financing activities you identify from this analysis that should be reported on the statement of cash flows.
Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock (par $1; outstanding, 400,000 shares) Preferred Stock, 9% (par $10; outstanding, 18,100 shares) Retained Earnings $ 400,000 181,000 957,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017. Three independent cases are assumed: The preferred stock is noncumulative; the total amount of 2018 dividends would be $18,000. The preferred stock is cumulative; the total amount of 2018 dividends would be $15,000. Dividends were not in arrears prior to 2016. Same as Case B, except the amount is $58,000. Case A: Case B: Case C: Required: 1-a. Compute the amount of 2018 dividends, in total, that would be payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of 2018 dividends per share payable to…

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