At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock ($10 par value); no changes in account during the year. Shares authorized: 310,000. Shares issued: (all shares were issued at $20 per share; $2,180,000 total cash collected). Treasury stock: 2,000 shares (repurchased at $16 per share). The treasury stock was acquired after a stock split was announced. Net income: $214,000. Dividends declared and paid: $119,840. Retained earnings beginning balance: $665,000. Required: 1. Complete the following tabulation: 2. Calculate the balance in the Additional paid-in capital account. 3. What is earnings per share (EPS)? 4. What was the dividend paid per share? 5. In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be reported? 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, what will be the par value per share? How many shares will be outstanding? 7. Assuming the stock split mentioned above, prepare any journal entry that should be made. 8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared (after treasury stock repurchase) when the market price of the common stock was $21. Prepare any journal entry that should be made. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 Req 5 and 6 Req 7 and 8 Complete the following tabulation: Shares authorized Shares issued Shares outstanding 310,000 109,000 107,000 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 4 Req 5 and 6 Req 7 and 8 2. Calculate the balance in the Additional paid-in capital account. 3. Calculate the earnings per share (EPS). (Round your answer to 2 decimal places.) 4. Calculate the dividend paid per share. (Round your answer to 2 decimal places.) Additional paid-in capital Earnings per share Dividend per share $ $ 1,070,000 2.00 1.12 Answer is not complete. Complete this question by entering your answers in the tabs below. Req1 Reg 2 to 4 Req 5 and 6 Req 7 and 8 5. Under what section should treasury stock be reported on the balance sheet? Also at what amount should it be shown? 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, calculate the par value per share and the number of outstanding shares. 5. Stockholders' equity Par value per share Shares outstanding $ $ 6. 32,000 10% 214,000 Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 Req 5 and 6 Req 7 and 8 7. Assuming the stock split mentioned above, prepare any journal entry that should be should be made. 8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared (after treasury stock repurchase) when the market price of the common stock was $21. Prepare any journal entry that should be made. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet
