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HiTech Manufacturing Company has 1 , 0 0 0 , 0 0 0 shares of $ 1 par value capital stock outstanding on January 1
HiTech Manufacturing Company has shares of $ par value capital stock outstanding on January The following equity transactions occurred during the current year.
Apr. Distributed additional shares of capital stock in a for stock split. Market price of stock was $ per share.
June Declared a cash dividend of $ per share.
July Paid the $ cash dividend to stockholders.
Aug. Declared a percent stock dividend. Market price of stock was $ per share.
Sept. Issued shares resulting from the percent stock dividend declared on August
a Prepare journal entries to record the above transactions.
b Compute the number of shares of capital stock outstanding at yearend.
c What is the par value per share of HiTech Manufacturing stock at the end of the year?
d Determine the effect of each of the following on total stockholders' equity: stock split, declaration and payment of a cash dividend, declaration and distribution of a stock dividend.
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