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Exercise 12.7 Cash Dividends, Stock Dividends, and Stock Splits L.O. 4 HiTech Manufacturing Company.

17 / 01 / 2019 Research Papers

This paper circulates around the core theme of Exercise 12.7 Cash Dividends, Stock Dividends, and Stock Splits L.O. 4 HiTech Manufacturing Company. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Exercise 12.7 Cash Dividends, Stock Dividends, and Stock Splits L.O. 4 HiTech Manufacturing Company. 1 answer below » Exercise 12.7 Cash Dividends, Stock Dividends, and Stock Splits L.O. 4 HiTech Manufacturing Company has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The following equity transactions occurred during the current year: Apr. 30 Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of stock was $35 per share. June 1 Declared a cash dividend of 60 cents per share. July 1 Paid the 60-cent cash dividend to stockholders. Aug. 1 Declared a 5 percent stock dividend. Market price of stock was $19 per share. Sept.10 Issued shares resulting View complete question » Exercise 12.7 Cash Dividends, Stock Dividends, and Stock Splits L.O. 4 HiTech Manufacturing Company has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The following equity transactions occurred during the current year: Apr. 30 Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of stock was $35 per share. June 1 Declared a cash dividend of 60 cents per share. July 1 Paid the 60-cent cash dividend to stockholders. Aug. 1 Declared a 5 percent stock dividend. Market price of stock was $19 per share. Sept.10 Issued shares resulting from the 5 percent stock dividend declared on August 1. a. Prepare journal entries to record the above transactions. Compute the number of shares of capital stock outstanding at year-end. What is the par value per share of HiTech Manufacturing stock at the end of the year? Determine the effect of each of the following on total stockholders’ equity: stock split, declaration and payment of a cash dividend, declaration and distribution of a stock dividend. View less » Sep 18 2015 12:08 PM


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