On July 1, 2009, Jones Corporation had the following capital structure: Common stock (par $3) ..... $600,000
Question:
Common stock (par $3) ..... $600,000
Capital in excess of par .... 900,000
Retained earnings ....... 700,000
Treasury stock, none
Required:
Complete the following comparative tabulation based on two independent cases:
Case 1: The board of directors declared and issued a 50 percent stock dividend when the stock was selling at $5 per share.
Case 2: The board of directors voted a 6-to-5 stock split (i.e., a 20 percent increase in the number of shares). The market price prior to the split was $5 pershare.
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A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Comparative results Items Before Dividend and Split After Stock Dividend After ...View the full answer
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