1. RPC Corporation had 25,000 shares of common stock $10 par outstanding on March 5, 2015, before a 5-for-2 stock split. Determine how many stocks
 will be outstanding after the split and the par value of each share.
2. Tortoise Cleaning Corporation had 90,000 shares of common stock outstanding on June 1, 2015, with each share having a $20 par value. The corporation
 announced a 4-for-1 stock split on this date. Prior to the split, Jen Vester held 2,000 shares of the corporation's common stock. Determine the total number of shares outstanding and the par value of each share after the stock split. Will Jen have a change in ownership after the split?
3. A corporation currently has $1,500,000 of 5% bonds outstanding and $5,000,000 of installment notes payable. The company makes semiannual payments of $129,000 on the note ($24,000 of which will be related to interest in the upcoming year). Ignoring any other liabilities, how much of current and long-term liabilities will the corporation's balance sheet present?
4. Shem Creek has the following liabilities outstanding: Notes Payable, $6,700,000; 7.5% Bonds Payable, $3,100,000; and Accounts Payable, $150,000. The installment note requires quarterly payments of $41,000 every year, $36,000 of which will be for interest payments for the upcoming year. The bond also has an unamortized premium of $400,000. Ignoring any other liabilities Shem Creek may have, prepare the liabilities portion of the balance sheet for the 2015 calendar year-end.

Answer rating: 100% (QA)

Required solution Prior to the stock split Number of shares outstanding 90000 Par value per share 20... View the full answer