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    Myers Co Types of dividends - assets, liab & equity accounts

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    Myers Company provides you with the following condensed balance sheet information.

    Assets
    Current assets 43,600
    Equity investments (ABC stock; 10,290 shares at cost) 41,160
    Equipment (net) 252,900
    Intangibles 60,310
    Total assets397,970
    Liabilities and Stockholders' Equity
    Current and long-term liabilities104,800
    Stockholders' equity
    Common stock ($5 par) $ 21,000
    Paid-in capital in excess of par 116,400
    Retained earnings 155,770 293,170
    Total liabilities and stockholders' equity397,970

    For each transaction below, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.)

    (a) Myers declares and pays a $0.6 per share cash dividend.

    (1) Total assets
    (2) Common stock
    (3) Paid-in capital in excess of par
    (4) Retained earnings
    (5) Total stockholders' equity

    (b) Myers declares and issues a 10% stock dividend when the market price of the stock is $13 per share.

    (1) Total assets
    (2) Common stock
    (3) Paid-in capital in excess of par
    (4) Retained earnings
    (5) Total stockholders' equity

    (c) Myers declares and issues a 40% stock dividend when the market price of the stock is $15 per share.

    (1) Total assets
    (2) Common stock
    (3) Paid-in capital in excess of par
    (4) Retained earnings
    (5) Total stockholders' equity

    (d) Myers declares and distributes a property dividend. Myers gives one share of ABC stock for every two shares of Myers Company stock held. ABC is selling for $11 per share on the date the property dividend is declared.

    (1) Total assets
    (2) Common stock
    (3) Paid-in capital in excess of par
    (4) Retained earnings
    (5) Total stockholders' equity

    (e) Myers declares a 2-for-1 stock split and issues new shares.

    (1) Total assets
    (2) Common stock
    (3) Paid-in capital in excess of par
    (4) Retained earnings
    (5) Total stockholders' equity

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    https://brainmass.com/business/accounting/myers-co-types-of-dividends-assets-liab-equity-accounts-575059

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    $2.19