Brief Exercise 15-15

Blue Spruce Corporation has 107,000 common shares outstanding with a carrying value of $18 per share. Blue Spruce declares a 2-for-1 stock split.

How many shares are outstanding after the split?

Number of shares outstanding

shares

What is the carrying value per share after the split?

Carrying value per share$

What is the total carrying value after the split?

Total carrying value$

What journal entry is necessary to record the split?(Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation

Debit

Credit