Artists Unlimited Company has provided the Stockholders’ Equity section of the B

Question

Artists Unlimited Company has provided the Stockholders’ Equity section of the Balance Sheet at December 31. The Controller has asked you to compute the cash dividends, stock dividends and stock splits based on its December 31 values. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.(Fill the reamin yellow blank with excel form)

1 At December 31, Artists Unlimited Company had the following 2 stockholder's equity components that would be part of the balance sheet Stock Dividend 2 for 1 Stock Split Cash Dividend 4 5 Stockholders' Equity 6 Contributed Capital: 7 Number of common shares outstanding 8 Par value per common share 9Common Stock, at par 10Additional Paid in Capital 11Total Contributed Capital 12 Retained Earnings 13Total Stockholders' Equity 14 At Dec 31 5,000 10,000 1.00 10,000 745,000 755,000 10,000 5,000 1.00 5,000 745,000 750,000 1.00$ 5,000 745,000 750,000 980,000 1,730,000 745,000 980,000

Explanation / Answer

For Stock dividend journal entry

Retained Earnings debit 5000

Common Stock credit 5000

For Cash Dividend

Retained Earnings debit 5000

cash credit 5000

100% 2 $5000 stock for 1 stock cash dividend split dvidend Contribution Capital Number of common shares outstanding 10000 10000 5000 Par value per common share 1 0.5 1 Common stock at par 10000 5000 5000 additional paid in capital 745000 745000 745000 Total Contribution Capital 755000 750000 750000 Retained Earnings 975000 980000 975000 Total Stockholders's Equity 1730000 1730000 1725000

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