On July 1, Jones Corporation had the following capital structure Common Stock, p

Question

On July 1, Jones Corporation had the following capital structure Common Stock, par $1; 8,000,000 authorized shares, 165,000 issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock $165,000 109,000 189,000 None Required Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share Case 1 Case 2 Stock After Stock Dividend Before Stock After 100% Items Transactions Split Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Earnings Total Stockholders' Equity 1.00 109,000 189,000

Explanation / Answer

Items Before stock transactions After 100% stock dividend After stock split Number of shares outstanding 165000 165000 247500 Par per share 1 1                 0.67 Common Stock Account $165000 $330000 $165000 Additional paid in capital $109000 $109000 $109000 Retained earnings $189000 $24000 $189000 Total stockholders equity $463000 $463000 $463000

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.