Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 20×7.

Dividends and Stock Split Transactions and Stockholder’s Equity

The stockholders’ equity section of Rigby Moving and Storage Company’s balance sheet as of December 31, 20×6, appears at the top of the next page. The company engaged in the following stockholders’ equity transactions during 20×7:

Mar. 5 Declared a $.40 per share cash dividend to be paid on April 6 to stockholders of record on March 20.

20 Date of record.

Apr. 6 Paid the cash dividend.

June 17 Declared a 10 percent stock dividend to be distributed August 17 to stockholders of record on August 5. The market value of the stock was $14 per share.

Aug. 5 Date of record.

17 Distributed the stock dividend.

Oct. 2 Split its stock 2 for 1.

Dec. 27 Declared a cash dividend of $.20 payable January 27, 20×8, to stockholders of record on January 14, 20×8.

Required

1. Record the 20×7 transactions in journal form.

2. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 20×7. Assume net income for the year is $400,000.

3. User Insight: If you owned some shares of Rigby, would you expect the total value of your shares to go up or down as a result of the stock dividends and stock split? What intangibles might affect the stock value?

 

find the cost of your paper

determine values for K7 and K8.

Polyolefins such as polyethylene undergo slow degradation when placed in air. Degradation occurs by reactions with atmospheric oxygen that lead to the formation of carbonyl groups (groups containing oxygen), gradual….

State the differences in operation and application for junction transistors and MOSFETs.

1. State the differences in operation and application for junction transistors and MOSFETs. 2. We note in Section 12.5 (Figure 12.20) that in FeO (wüstite), the iron ions can exist in both….

Determine values of DT for aluminum, steel, aluminum oxide, soda–lime glass, polystyrene, and nylon 6,6 using the data in Table 19.1.

Nonsteady-state heat flow may be described by the following partial differential equation:     where DT is the thermal diffusivity; this expression is the thermal equivalent of Fick’s second law of diffusion….