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P11-11 (Algo) Comparing Cash Dividends, Stock Dividends, and Stock Splits L811-4 Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (s0.10 par value) $ 72,000 Additional paid-in capital Retained earnings Treasury stock 2,020,000 920,000 Cash flows from financing activities 25,000 Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $22 per share. Before Arry Dividends Items After Cash Dividend After Stock After Stock Dividend Split Common stock account Par value per share Shares outstanding Additional paid in capital Retained earnings Total stockholders' equity Cash flows from financing activities $ $ $ $ $ $ 72,000 $ 0.1 S 720,000 2,020,000s 920,000 $ 3,012,000 25,000 72,000 $ 0.10 $ 720,000 2,020,000 $ 912,800 $ S 144,000 $ 0.10 S 1,440,000 2,020,000 $ S 3,012,000 $ 25,000 $ 72,000 0.05 1,440,000 2,020,000 920,000 3,012,000 25,000

P11-11 (Algo) Comparing Cash Dividends, Stock Dividends, and Stock Splits L811-4 Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (s0.10 par value) $ 72,000 Additional paid-in capital Retained earnings Treasury stock 2,020,000 920,000 Cash flows from financing activities 25,000 Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $22 per share. Before Arry Dividends Items After Cash Dividend After Stock After Stock Dividend Split Common stock account Par value per share Shares outstanding Additional paid in capital Retained earnings Total stockholders' equity Cash flows from financing activities $ $ $ $ $ $ 72,000 $ 0.1 S 720,000 2,020,000s 920,000 $ 3,012,000 25,000 72,000 $ 0.10 $ 720,000 2,020,000 $ 912,800 $ S 144,000 $ 0.10 S 1,440,000 2,020,000 $ S 3,012,000 $ 25,000 $ 72,000 0.05 1,440,000 2,020,000 920,000 3,012,000 25,000

FINANCIAL ACCOUNTING
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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P11-11 (Algo) Comparing Cash Dividends, Stock Dividends, and Stock Splits LO11-4, 11-6,11-9 Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (s0.10 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from financing activities Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $22 per share. Items After Stock After Stock Dividend Split 72,000 144,000 $ 0.05 0.10 $ Total stockholders' equity Cash flows from financing activities Before Arry Dividends $ $ S $ $ 72,000 2,020,000 920,000 $ $ 0 25,000 72,000 $ 0.1 S 3,012,000 25,000 After Cash Dividend 72,000 $ 0.10 $ 720,000 720,000 2,020,000 $2,020,000 $ 920,000 $ 912,800 $ $ 1,440,000 1,440,000 2,020,000 $2,020,000 S 3,012,000 $ 25,000 $ 920,000 3.012,000 25,000
Transcribed Image Text:P11-11 (Algo) Comparing Cash Dividends, Stock Dividends, and Stock Splits LO11-4, 11-6,11-9 Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock (s0.10 par value) Additional paid-in capital Retained earnings Treasury stock Cash flows from financing activities Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share. Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $22 per share. Items After Stock After Stock Dividend Split 72,000 144,000 $ 0.05 0.10 $ Total stockholders' equity Cash flows from financing activities Before Arry Dividends $ $ S $ $ 72,000 2,020,000 920,000 $ $ 0 25,000 72,000 $ 0.1 S 3,012,000 25,000 After Cash Dividend 72,000 $ 0.10 $ 720,000 720,000 2,020,000 $2,020,000 $ 920,000 $ 912,800 $ $ 1,440,000 1,440,000 2,020,000 $2,020,000 S 3,012,000 $ 25,000 $ 920,000 3.012,000 25,000
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