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At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10), no changes in
At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10), no changes in account during the year. Shares authorized, 360,000 Shares issued: Treasury stock: 7,000 shares (repurchased at $14 per share). The treasury stock was acquired after a stock split was announced. Net income, $303,400 Dividends declared and paid: $173,160. Retained earnings beginning balance: $715,000 (all shares were issued at $14 per share. Total cash collected: $2,170,000. Required 1. Complete the following tabulation: Shares authorized Shares issued Shares outstanding 2. What is the balance in the Additional Paid-in Capital account. Additional paid-in capital 3. What is earnings per share (EPS). (Round your answer to 2 decimal places.) arnings per share 4. What was the dividend paid per share. (Round your answer to 2 decimal places.) Dividend per share 5. Under what section should treasury stock be reparted 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 late the par value per share and the number of outstanding shares. Par value per share Shares outstanding 7. Assuming the stock split mentioned above, prepare any joumal entry that should be made. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for stock split. Note: Enter debits belfore credits 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. Par value per share Shares outstanding 7. Assuming the stock split mentioned above, prepare any journal entry that should be made. (If no entry is required for a transaction/event, select "No journal en View transaction list Journal entry worksheet Record entry for stock split. Note: Enter debits before credits. Credit Transaction General Journal Debit View general journal Record entry Clear entry 8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared and issued (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.) View transaction list Journal entry worksheet Record the entry for the stock dividend Note: Enter debits before credits. Debit Credit Transaction General Journal Record entry Clear entry View general journal At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10), no changes in account during the year. Shares authorized, 360,000 Shares issued: Treasury stock: 7,000 shares (repurchased at $14 per share). The treasury stock was acquired after a stock split was announced. Net income, $303,400 Dividends declared and paid: $173,160. Retained earnings beginning balance: $715,000 (all shares were issued at $14 per share. Total cash collected: $2,170,000. Required 1. Complete the following tabulation: Shares authorized Shares issued Shares outstanding 2. What is the balance in the Additional Paid-in Capital account. Additional paid-in capital 3. What is earnings per share (EPS). (Round your answer to 2 decimal places.) arnings per share 4. What was the dividend paid per share. (Round your answer to 2 decimal places.) Dividend per share 5. Under what section should treasury stock be reparted 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 late the par value per share and the number of outstanding shares. Par value per share Shares outstanding 7. Assuming the stock split mentioned above, prepare any joumal entry that should be made. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for stock split. Note: Enter debits belfore credits 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. Par value per share Shares outstanding 7. Assuming the stock split mentioned above, prepare any journal entry that should be made. (If no entry is required for a transaction/event, select "No journal en View transaction list Journal entry worksheet Record entry for stock split. Note: Enter debits before credits. Credit Transaction General Journal Debit View general journal Record entry Clear entry 8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared and issued (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.) View transaction list Journal entry worksheet Record the entry for the stock dividend Note: Enter debits before credits. Debit Credit Transaction General Journal Record entry Clear entry View general journal
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