9 value 1.51 points On July 1, Jones Corporation had the following capital struc

Question

9 value 1.51 points On July 1, Jones Corporation had the following capital structure Common Stock, par $1; 8,000,000 authorized shares, 135,000 issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock $135,000 97,000 177,000 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 $7 per share Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $7 per share Case 1 Case 2 Before Stock Transactions After 100% Stock Items Split Dividend Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Earnings Total Stockholders' Equity 1.00 97,000 177,000 $ 274,000 $

Explanation / Answer

Before After 100% stock dividend After stock split No. of shares outstanding 135000 270000 270000 Par per share 1 1 0.5 Common Stock account 135000 270000 135000 Additional paid in capital 97000 97000 97000 Retained earnings 177000 42000 177000 Total stockholders' equity 409000 409000 409000

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