Chapter 13 Homework A (Question #7) Excercise 13-6 – Video

Posted: February 8, 2013 at 8:45 am


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Chapter 13 Homework A (Question #7) Excercise 13-6
On June 30, 2011, Quinn Corporation #39;s common stock is priced at $27.5 per share before any stock dividend or split, and the stockholders #39; equity section of its balance sheet appears as follows. Assume that the company declares and immediately distributes a 100% stock dividend. This event is recorded by capitalizing retained earnings equal to the stock #39;s par value. Answer these questions about stockholders #39; equity as it exists after issuing the new shares. 1a. What is the retained earnings balance? (Omit the "$" sign in your response.) 1b. What is the amount of total stockholders #39; equity? (Omit the "$" sign in your response.) 1c. How many shares are outstanding? Assume that the company implements a 2-for-1 stock split instead of the stock dividend in part 1. Answer these questions about stockholders #39; equity as it exists after issuing the new shares. 2a. What is the retained earnings balance? (Omit the "$" sign in your response.) 2b. What is the amount of total stockholders #39; equity? (Omit the "$" sign in your response.) 2c. How many shares are outstanding?

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Chapter 13 Homework A (Question #7) Excercise 13-6 - Video

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February 8th, 2013 at 8:45 am

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