Opt_Prob_Solutions_chap_11_Solutions

Opt_Prob_Solutions_chap_11_Solutions - Chapter 11 Optional...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 11 Optional Problem Solutions E11–23. July 13, 2004 Retained earnings (-SE). ........................................................ 625,000,000 Dividends payable (+L). ...................................................... 625,000,000 2,500 (million) shares x $0.25 = $625,000,000 July 23, 2004 No journal entry required. August 16, 2004 Dividends payable (-L). .......................................................... 625,000,000 Cash (-A). ........................................................................... 625,000,000 E11–24. Comparative results: Items Before Dividend and Split After Stock Dividend After Stock Split Common stock account $200,000 $300,000 $200,000 Par per share $1 $1 $.83 (rounded) Shares outstanding #200,000 #300,000 #240,000 Capital in excess of par $ 880,000 $880,000 $ 880,000 Retained earnings $ 720,000 $ 620,000 $ 720,000 Total stockholders’ equity $1,800,000 $1,800,000 $1,800,000 Comments: Neither the stock dividend nor stock split changed total stockholders’ equity
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This homework help was uploaded on 02/19/2009 for the course HA 230 taught by Professor Davidlee during the Fall '06 term at Cornell University (Engineering School).

Page1 / 2

Opt_Prob_Solutions_chap_11_Solutions - Chapter 11 Optional...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online