ACC 226
Axia College of University of Phoenix (UoP)
Financial Accounting
Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)
ACC 226 Solution
Help in ACC 226
Quick Study Questions 13-5 (QS 13-5) The stockholders’ equity section of Catalina Company’s balance sheet as of April 1 follows. On April 2, Catalina declares and distributes a 10% stock dividend. The stock’s per share market value on April 2 is $25. Prepare the stockholders’ equity section immediately after the stock dividend.
Common stock—$5 par value, 375,000 shares
authorized, 150,000 shares issued and outstanding . . $ 750,000
Contributed capital in excess of par value, common stock . . 352,500
Total contributed capital . . . . . 1,102,500
Retained earnings . . . . . . . . . . . . 633,000
Total stockholders’ equity . . . $1,735,500
Click here for the SOLUTION
