Find retained earnings balance and total stockholders equity

Assignment Help Accounting Basics
Reference no: EM13256467

On June 30, 2008, Sharper Corporation's common stock is priced at $28.5 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows:


Commonstock-$8 par value, 70,000 shares authorized, 28,000 sharesissued and outstanding

 


$

224,000


Paid-in capital inexcess of par value, common stock

 



100,000


Retainedearnings

 



324,000


Total stockholders'equity

 


$

648,000



Assume that the company declares and immediately distributes a 100%stock dividend. This event is recorded by capitalizing retainedearnings equal to the stock's par value. Answer these questionsabout stockholders' equity as itexists after issuing the newshares

Find the retained earnings balance and the total stockholders equity? and also the shares outstanding.

Reference no: EM13256467

Questions Cloud

To change embedded in the dupont story : To what extent are the following approaches to change embedded in the DuPont story? Justify your answer, providing specific examples):
Calculate the collision frequency : In a 13.56 MHz RF plasma operating at a pressure of 250 mTorr, assume Te = 20,000 K. What is the typical mean free path between electron-gas collisions? Calculate the collision frequency. How many electron collisions will occur during each applied fi..
T-accounts-trial balance of dewitt : Selected transactions from the journal of Dewitt Inc. during its first month of operations are presented here. By posting the above transactions to T-Accounts complete the following trial balance.
Problem based on departmental break-up : Factory overhead for the year is estimated at Rs776,000. Departmental break-up is provided below:
Find retained earnings balance and total stockholders equity : Assume that the company declares and immediately distributes a 100%stock dividend. Find the retained earnings balance and the total stockholders equity? and also the shares outstanding.
Wal-mart uses the tagline : Wal-Mart uses the tagline "save money, live better" this is an example of product positioning by _. a. use or application b. cultural symbol c. price-quality relationshipd. product user.
What is the invoice price : You purchase a bond with a coupon rate of 7 percent, semiannual coupons, and a clean price of $1,011. If the next coupon payment is due in four months, what is the invoice price?
Evaluate the concentration of the ions and molar solubility : Calculate the concentration of the ions and the molar solubility and the solubility product constant for the Salt at 25 degree c. Show the balance reaction.
Calculate the final speed of the ball right : A 4 kg ball is raised a vertical distance of 2 meters. Using the conservation of energy principle calculate the final speed of the ball right before it hits the ground

Reviews

Write a Review

Accounting Basics Questions & Answers

  Evaluate the effectiveness of the company disaster recovery

assess the short- and long-term impact the disaster had to the business and stakeholders. Provide specific examples to support your response.

  Identify the internal control reporting options

Use this Appendix to help guide you on what I expect to see from your assignment. The best way to tackle this assignment is to choose one specific area in accounting to focus on. Example: Payroll.

  Plant and equipment for continuing nonpublic client

Which of the following best describes the auditors' approach to the audit of the ending balance of property, plant and equipment for a continuing nonpublic client?

  Interest on beginning capital balances

Jones, Silva, and Thompson form a partnership and agree to allocate income equally after recognition of 10% interest on beginning capital balances and monthly salary allowances of $2,000 to Jones and $1,500 to Thompson. Capital balances on January..

  Violation of the partnership agreement

How might a partner withdrawing in violation of the partnership agreement and without the consent of the other partners be treated? What about a partner who is forced to withdraw?

  Amount of investigation costs

She incurs expenses of $18,000 (accounting fees, marketing survey, etc.) in exploring its business potential. Her parents have agreed to loan her the money required to start the business. What amount of these investigation costs can Juliet deduct ..

  Effective-interest method of amortization

Assume the same information in E 14-4, except that Celine Dion Company uses the effective-interest method of amortization for premium or discount. Assume an effective yield of 9.7705%

  What should bronze corporation report

bronze corporation sold machinery for $27,000 on december 31, 2011. The machinery had been purchased on january 2, 2008 for $40,000 and had an adjusted basis of $21,000 at the date of the sale. For 2011, what should Bronze Corporation report?

  What are the factors that influence the extent of voluntary

Identify at least 3 areas in accounting and/or audit where complexity increases as a result of globalization. How should audit firms deal with them?

  Eliminate and adjust for the intercompany transaction

In 2010 Down sold $100,000 merchandise to Up at gross margin of 40%. Up's Ending inventory balance at the end of 2010 is $25,000. Prepare the journal entries for 2009 and 2010 to eliminate and adjust for the intercompany transaction.

  Unearned revenue adjusting entry

What accounts does a company debit and credit in a prepaid expense adjusting entry? What accounts are debited and credited in an unearned revenue adjusting entry.

  Investment and eventual recovery of working capital

Some investment projects require that a company increase its working capital. Under the net present value method, the investment and eventual recovery of working capital should be treated as:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd