Company Z has 2.8 million shares of common stock authorized with a par value of $1 and a market price of $66. There are 1.4 million outstanding shares and 0.35 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100% stock dividend. d. Show the effect of the 100 % stock dividend on assets, liabilities, and stockholders' equity. Complete this question by entering your answers in the table below. Required A Required B Required C Required D Show the effect of the 10% stock dividend millions.) Assets on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and r Stockholders' Equity Liabilities
Company Z has 2.8 million shares of common stock authorized with a par value of $1 and a market price of $66. There are 1.4 million outstanding shares and 0.35 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100% stock dividend. d. Show the effect of the 100 % stock dividend on assets, liabilities, and stockholders' equity. Complete this question by entering your answers in the table below. Required A Required B Required C Required D Show the effect of the 10% stock dividend millions.) Assets on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and r Stockholders' Equity Liabilities
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 20BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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