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1. ACC644 Financial Reporting and Analysis Class #3 - Modules 7- 8 class
2. ACC644 Modules 4-6 Questions and Solutions
3. ACC644 Assignment #1 - Goldey-Beacom College
4. ACC644 Modules 4-6 assignment - 2020 - Goldey Beacom College
5. ACC644 Financial Reporting and Analysis Spring 2020 Module 7: Current and Long-term liabilities
6. ACC644 Module 8 Class handout -my work
7. ACC644 Solution for Assignment #1 Goldey-Beacom College
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Goldey-Beacom CollegeACC644 Financial Reporting and Analysis Class #3 - Modules 7- 8 classModule 7: Current and Long-Term Liabilities 1. On July 1, 2017, Leahy Corporation took out a short-term loan of $45,000 to be repaid inone year. The annual interest rate is 4% with no interest payments due until the loan isrepaid. How much interest should Leahy accrue by year-end December but is affecteddrastically by the way the company accounts for stock dividends. There is noeconomic difference when stock dividends are issued so Josette Dupress shouldnot use a ratio that indicates that there are differences.10Worksheet for Problem #825% considered as a Large Stock Dividend (Valued at par value) Stock Dividend 41,520 x 25% = 10,380 shares Stock Dividend 10,380 x $1 par value = $10,380S/E before stock dividend Stock Dividend S/E after stock dividend (large) C/S shares 41 ,520 shares 41 ,520 x 1.25 = 10,380 shares 51 ,900 shares Common stock, par $1 $41 ,520 $10 ,380 $51 ,900Additional paid-in capital $99 ,750 --------- $99 ,750Retained Earnings $346 ,380 ($10 ,380) $336 ,00025% considered as a Small Stock Dividend (Valued at Market Price) Stock Dividend 41,250 x 25% = 10,380 shares Stock Dividend 10,380 shares x $12 Market price = $124,560 C/S increased by (10,380 x $1 par value = $10,380) Additional Paid in capital increased by ($124,560 - 10,380 = $114,180)S/E before stock dividend Stock Dividend S/E after stock dividend (small) C/S shares 41 ,520 shares 41 ,520 x 1.25 = 10,380 shares 51 ,900 shares Common stock, par $1 $41 ,520 $10 ,380 $51 ,900Additional paid-in capital $99 ,750 114 ,180 $213 ,930Retained Earnings $346 ,380 (124 ,560) $221 ,82011
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Goldey-Beacom College
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Accounting
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ACC644
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Language
English
Updated On
Jul 15th, 2023
Number of Pages
11
Type
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Published
Jul 15th, 2023
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