Problemas of march 11 2013 swanson group ltd had 300000, Ask an Expert

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As of March 11, 2013, Swanson Group, Ltd. had 300,000 shares of $10 par value common stock authorized, and 185,000 shares issued. There were 6,000 shares of treasury stock that had been purchased by the firm at an average cost of $12. The market value of the stock on March 11, 2013 was $22.

a. How many shares of common stock are outstanding on March 11, 2013?

b. Assume that on March 11, 2013, the board of directors declared a cash dividend of $0.15 per share, payable on April 4, 2013, to stockholders of record on March 11, 2013. What is the amount of the dividend payable that would appear on the March 31, 2013, balance sheet?

c. Assume that instead of a cash dividend, the board of directors declared a 4% stock dividend. Calculate the amount of retained earnings that would be capitalized as a result of the stock dividend.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92750129

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