View previous attemptCheck my workRequired 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, 2019Nor11 30, 2019Paid-in eapitaltPreferred atock, $120 par value, 6, eumulative, 100,000 sharesauthorired, 90,000 shares ienued and outatandingCommon atock, $6 par value, 600,000 hares authorized, 390,000 and370, 000 shares lesued, respectivelyAdditional paid-in capitalRetained earningaLesst Treanury common atock, at cost; 18,000 shares and 17,000 shares,respectivelyTotal stockholdera equity$10,800,000010,800,00014,750, 00012,150,0002,220,00014,300,00011,074,0001,532,000)$37.562,000l56,000)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. Indicatethe financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)Balance SheetRevStockholders' EquityNet IncomeAssetsLiabilities+ Retained earnings+ Common stock+ Additional paid-in capital

Stock dividends - additional stocks issued to existing common stockholders with no distribution of…

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.)

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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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: Paid-in capital: Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively. Additional paid-in capital. Retained earnings Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively Total stockholders' equity. May 31, 2019 Total cash dividend $16,800,000 ? 26,100,000 36,200,000 (4,412,000) $ ? April 30, 2019 $16,800,000 2,700,000 23,220,000 34,640,000 (4,148,000) $73,212,000 Assume that on June 1 the board of directors declared a cash dividend of $0.60 per share on the outstanding shares of common stock. The dividend will be payable on July 15 to stockholders of record on June 15 e-1. Calculate the total amount…
usiness AccountingQ&A LibraryWeisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares and 50,000 ordinary shares of $10 par value outstanding at December 31, 2020. Instructions Answer the questions in each of the following independent situations. a. If the preference shares are cumulative and dividends were last paid on the preference shares on December 31, 2017, what are the dividends in arrears that should be reported on the December 31, 2020, statement of financial position? How should these dividends be reported? b. If the preference shares are convertible into seven shares of $10 par value ordinary shares and 3,000 shares are converted, what entry is required for the conversion, assuming the preference shares were issued at par value? c. If the preference shares were issued at $107 per share, how should the preference shares be reported in the equity section? Weisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares…
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1. Compute Tidepool's EPS for the year. 2. Assume Tidepool's market price of a share of common stock is $ 7 per share Compute Tidepool's price / earnings ratio Tidepool Corp. earned net income of $133,340 and paid the minimum dividend to preferred stockholders for 2018. Assume that there are no changes in common shares outstanding during 2018. Tidepool's books include the following figures
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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 Paid-in capital: Preferred stock, $120 par value, 5%, cumulative, 100,000 shares authorized, 74,000 shares issued and outstanding Common stock, $6 par value, 600,000 shares authorized, 420,000 and 480,000 shares issued, respectively Additional paid-in capital Retained earnings Less: Treasury common stock, at cost; 21,000 shares and 19,500 shares, respectively Total stockholders' equity Par value Number of shares 2. What will be the market price per share of common stock after the split? Market price 3. How many shares of common stock will be in the treasury after the split? $ 8,880,000 Number of shares ? 14,670,000 12,070,000 (1,932,000) $ g. Assume that instead of the stock dividend described in f, the board of directors authorized a 2-for-1 stock split on June 1 when the…
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