On July 1, 2017, Jones Limited had the following share structure: Common shares (par $1; 200,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On July 1, 2017, Jones Limited had the following share structure: Common shares (par $1; 200,000 authorized shares; 149,000 issued and outstanding) Contributed surplus Retained earnings $149,000 87,000 171,000 Required: Complete the following table based on three independent cases involving share transactions: (Round your par value answers to 2 decimal places.) Case 1: The board of directors declared and issued a 10 percent stock dividend when the share price was $7.90 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the share price was $7.90 per share. Case 3: The board of directors voted a 2-for-1 stock split. The share price prior to the split was $7.90 per share. Case 1 Case 2 Case 3 Before After 10% After 100% After Items Share Stock Stock Stock Transactions Dividend Dividend Split Number of shares outstanding 149,000 163,900 Par per share 2$ 1 $ 1 Common shares account $ 149,000 $ 163,900 $ 2$ Contributed surplus 87,000 191,500 Retained Earnings 171,000 Total shareholders' equity $ 407,000 $ 355,400 $ %24 On July 1, 2017, Jones Limited had the following share structure: Common shares (par $1; 200,000 authorized shares; 149,000 issued and outstanding) Contributed surplus Retained earnings $149,000 87,000 171,000 Required: Complete the following table based on three independent cases involving share transactions: (Round your par value answers to 2 decimal places.) Case 1: The board of directors declared and issued a 10 percent stock dividend when the share price was $7.90 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the share price was $7.90 per share. Case 3: The board of directors voted a 2-for-1 stock split. The share price prior to the split was $7.90 per share. Case 1 Case 2 Case 3 Before After 10% After 100% After Items Share Stock Stock Stock Transactions Dividend Dividend Split Number of shares outstanding 149,000 163,900 Par per share 2$ 1 $ 1 Common shares account $ 149,000 $ 163,900 $ 2$ Contributed surplus 87,000 191,500 Retained Earnings 171,000 Total shareholders' equity $ 407,000 $ 355,400 $ %24
Expert Answer:
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Posted Date:
Students also viewed these finance questions
-
On July 1, 2014, Jones Limited had the following share structure: Required: Complete the following table based on three independent cases involving share transactions: Case 1: The board of directors...
-
On July 1, 2017, Jones Limited had the following share structure: Common shares (par $1; 200,000 authorized shares; 150,000issued and...
-
On February 15, Mite Corporations board of directors declared a 2 percent stock dividend applicable to the outstanding shares of its $10 par value common stock , of which 400,000 shares are...
-
Provide the appropriate statute for your answer (format style - IRAC - Issue, Rule, Application and Conclusion.) what are your thought? Problem Scenario- Earnest is married to Janice. Earnest and...
-
A hot steel ball is dropped into a cold aluminum cup containing some water. ( Assume the system is an isolated.) If the ball loses 400 J of heat, what can be said according to calorimetry?
-
An insulated, vertical pistoncylinder device initially contains 10 kg of water, 6 kg of which is in the vapor phase. The mass of the piston is such that it maintains a constant pressure of 200 kPa...
-
Sunny Day Sunlamps, Inc., had Sales Revenue of $53 million, Sales Returns and Allowances of $2 million, and Sales Discounts of $0.3 million in 2010. Cost of goods sold was $23 million, and net income...
-
After its first month of operation, the following amounts were taken from the accounting records of Polaris Realty Inc. as of November 30, 2011.Prepare an income statement for the month ending...
-
Diversity is a fact in our society. Glass ceiling and glass walls are broken in the work environment. As managers identify many advantages of employee diversity, there are also many challanges. Give...
-
Go back and quickly review the rules that the Sarbanes-Oxley Act of 2002 placed on the auditing profession as described in this chapter. What do you think are the two or three main purposes of these...
-
Imagine you are the CEO of the company in the selected episode. Write a paper in which you: Compare two (2) job positions from the episode and perform a job analysis of each position. Describe your...
-
breakeven Marathon Co . makes and sells a single product. The current selling price is $ 1 8 per unit. Variable expenses are $ 1 2 per unit, and fixed expenses total $ 3 6 , 0 0 0 per month. page 4 7...
-
III. Mariah Corp has the following non-trading equity securities 31, 2020: IV. Security ABC ordinary shares DEF ordinary shares GHI preference shares # of Shares 9,000 30,000 2,400 The following...
-
The impact of social media marketing on brand loyalty Question - a) Provide 3 Independent Variable & 1 Dependent variable b) Provide each variable 5 question Social media is defined by Safko and...
-
1. (a) Define integrated marketing communications. How is coordination of media achieved through integrated marketing communications? (b) Discuss the role that integrated marketing communications...
-
Sandra receives a divorce settlement of $116,000. Her marginal tax rate is 25 percent, and the capital gains tax rate is 15 percent. How much will her account be worth in 20 years under each of the...
-
find intervals of convergence of f(x), f'(x), f''(x) and the antiderivative of f(x). check for endpoints . f(x) = = n=1 (1)"+(x 2)" n
-
Parkin Industries, a U.S. company, acquired a wholly-owned subsidiary, located in Italy, at the beginning of the current year, for 200,000. The subsidiary's functional currency is the euro. The...
-
Todd Corporation wrote off $100,000 of obsolete inventory at December 31, 2017. Required: What effect did this write-off have on the company's December 31, 2017, current and quick ratios?
-
In late 2002, Frisby Technologies received a default notice from two of its creditors notifying the company that it was in default of the tangible net worth covenant in its loan agreements. Although...
-
Packaging Corporation of America produces containerboard and white papers. KapStone Paper and Packaging Corporation manufactures unbleached kraft paper products and corrugated products. Financial...
-
_____________ is the process of communicating knowledge that was developed by one person or in one part of an organization to another person or other parts of an organization. A. Cross training B....
-
Which of the following was not a lesson learned from the Just-In-Time Training project? A. good communications was instrumental to project success B. supplier partnerships were not very effective C....
-
Which of the following is not advice for closing projects or phases? A. You dont need to celebrate completing a project, especially if it did not go well. B. You should capture lessons learned as...
Study smarter with the SolutionInn App