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1points eBookHint Print References Check my workCheck My Work button is now enabled Item 11 On July 1, Jones Corporation had the following capital structure:
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Item 11
On July 1, Jones Corporation had the following capital structure:
Common Stock, par $1; 8,000,000 authorized shares, 165,000 issued and outstanding | $ 165,000 |
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Additional Paid-in Capital | 103,000 |
Retained Earnings | 183,000 |
Treasury Stock | 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. |
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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 Items Before Stock Transactions After 100% Stock Dividend After Stock Split Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital Retained Earnings Total Stockholders' Equity 103,000 183,000
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