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 declared and issued a 10 percent stock dividend when the share price was $8 per share.
Case 2: The board of directors declared and issued a 100 percent stock dividend when the share price was $8 per share.
Case 3: The board of directors voted a 2-for-1 stock split. The share price prior to the split was $8 per share.

Transcribed Image Text:

Common shares (par Contributed surplus Retained earnings $1; 200,000 authorized shares; 150,000 issued and autstanding) $150,000 88,000 172,000 Case 1 Case 2 Case 3 Before Share After 10% After 100% Stock Stock After Dividend Dividend Stock Split Transactions Items Number of shares autstanding Par per share Common shares account Contributed surplus Retained earnings Total shareholders' equity 2$ 24 2$ 2$ 2$ %24 88,000 172,000 2$ |