Sun Energy Company has the following capital section in its balance sheet. Its stock is currently...
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Sun Energy Company has the following capital section in its balance sheet. Its stock is currently selling for $4 per share. Common stock (65,000 shares) Retained earnings $130,000 250,000 $380,000 The firm Intends to first declare a 10 percent stock dividend and then pay a $0.20 cash dividend (which also causes a reduction of retained earnings). (Omit $ sign in your response.) Show the capital section of the balance sheet after the first transaction and then after the second transaction. Sun Energy Company After 1st transaction Common stock (71,500 shares) Retained earnings $ Sun Energy Company After 2nd transaction Common stock (71,500 shares). Retained earnings Sun Energy Company has the following capital section in its balance sheet. Its stock is currently selling for $4 per share. Common stock (65,000 shares) Retained earnings $130,000 250,000 $380,000 The firm Intends to first declare a 10 percent stock dividend and then pay a $0.20 cash dividend (which also causes a reduction of retained earnings). (Omit $ sign in your response.) Show the capital section of the balance sheet after the first transaction and then after the second transaction. Sun Energy Company After 1st transaction Common stock (71,500 shares) Retained earnings $ Sun Energy Company After 2nd transaction Common stock (71,500 shares). Retained earnings
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The image shows details of a company named Sun Energy Company which details its capital stock on its balance sheet It mentions that the common stock 65000 shares is valued at 138000 and the retained e... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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