Accounting Stock Dividends And Stock Splits Homework Help
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Assume that you own 600 shares of common stock of a company, that you have been receiving cash dividends of $6 per share per year, and that the company has a 4-for-3 stock split.
a. How many shares of common stock will you own after the stock split?
b. What new cash dividend per share amount will result in the same total dividend income as you received before the stock split?
c. What stock dividend percentage could have accomplished the same end result as the 4-for-3 stock split?
2.Stock Dividends and Stock Splits
Whitacre Company’s Stockholders’ Equity section of the balance sheet on December 31, 2009, was as follows
Common stock, $10 par value,…………………………………………………………. 60,000
shares issued and outstanding ………………………………………………………….$ 600,000
Additional paid-in capital …………………………………………………. 480,000
Retained earnings …………………………………………………………. 1,240,000
Total stockholders’ equity ……………………………………………… $2,320,000
On May 1, 2010, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split.
a. How many shares of stock are outstanding at year-end?
b. What is the par value per share of these shares?
c. Develop the Stockholders’ Equity category of Whitacre’s balance sheet as of December 31, 2010.
Dividends have been declared at year-end. For each independent case below, determine the total amount of dividends that each class of stock will receive. For all cases assume there are 8,000 shares outstanding of $10 par value common stock and 2,000 shares outstanding of 10%, $100 par value preferred stock. Show your calculations.
|Case||Total Dividends Declared||Preferred Stock Cumulative||Preferred Dividends in Arrears||Total Amount to Preferred||Total Amount to Common|
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4.Stock Splits, Dividends and Restrictions on Retained Earnings
Match each item/event pair below with the indicated change in the item. An individual classification may be used more than once, or not at all. For each dividend, assume that both declaration and payment or distribution has occurred.
A. Item increases
B. Item decreases
C. Item is unchanged
D. Direction of change cannot be determined
|1.||Book value per share||Stock dividend|
|2.||Par value per common share||Cash dividend|
|3.||Total retained earnings||Stock split|
|4.||Earnings per common share||Restriction of retained earnings|
|5.||Number of common shares outstanding||Stock dividend|
|6.||Total retained earnings||Cash dividend|
|7.||Total paid in capital||Stock dividend|
|8.||Par value per common share||Stock dividend|
5.Stock Dividends and Stock Splits
At December 31, 2010, Green Company and Blue Company have identical amounts of common stock and retained earnings as follows: Common Stock, $10 par, 50,000 shares authorized, 9,000 issued, 9,000 outstanding Retained Earnings, $500,000 At December 31, 2011, Green Company declares and issues a 100% stock dividend, while Blue Company declares and issues a 2-for-1 stock split.
Determine for each company the following amounts as of January 1, 2011:
a. Number of shares of common stock outstanding
b. Par value per share of the common stock
c. Total amount reported in Common Stock account
d. Retained earnings
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