Douglas Mcdonald Company S Balance Sheet Included The Following Shareholders Equity Accounts At December 31 2020 I 1 (41.24 KiB) Viewed 10 times
Douglas Mcdonald Company S Balance Sheet Included The Following Shareholders Equity Accounts At December 31 2020 I 2 (41.24 KiB) Viewed 10 times
Douglas McDonald Company's balance sheet included the following shareholders' equity accounts at December 31, 2020: ($ in millions) $ 1,150 16,300 15,263 $32,713 Paid-in capital: Common stock, 1,150 million shares at $1 par Paid-in capital-excess of par Retained earnings Total shareholders' equity Check my work On March 16, 2021, a 4% common stock dividend was declared and distributed. The market value of the common stock was $26 per share. Fractional share rights represented 4 million equivalent whole shares. Cash was paid in lieu of the fractional share rights. Required: 1. Complete the below table to calculate the value of shares issued. 2. Prepare the appropriate entries for the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the below table to calculate the value of shares issued. (Enter your answers in millions (.e. 10,000,000 should be entered as 10).) Stock Dividend
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!