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HiTech Manufacturing Company has 1 , 0 0 0 , 0 0 0 shares of $ 1 par value common stock outstanding on January 1
HiTech Manufacturing Company has shares of $ par value common stock outstanding on January The following equity transactions occurred during the current year: HiTech Manufacturing Company has shares of $ par value common stock outstanding on January The following equity transactions occurred during the current year: April : Distributed additional shares of common 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. August : Declared a percent stock dividend. Market price of stock was $ per share. September : Issued shares resulting from the percent stock dividend declared on August Required: a Prepare journal entries to record the above transactions. b Compute the number of shares of common stock outstanding at yearend. c What is the par value per share of HiTech Manufacturing common 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. April : Distributed additional shares of common 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. August : Declared a percent stock dividend. Market price of stock was $ per share. September : Issued shares resulting from the percent stock dividend declared on August Required: Prepare journal entries to record the above transactions. Compute the number of shares of common stock outstanding at yearend. What is the par value per share of HiTech Manufacturing common stock at the end of the year? 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.
HiTech Manufacturing Company has shares of $ par value common stock outstanding on January The following equity transactions occurred during the current year: HiTech Manufacturing Company has shares of $ par value common stock outstanding on January The following equity
transactions occurred during the current year:
April : Distributed additional shares of common 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.
August : Declared a percent stock dividend. Market price of stock was $ per share.
September : Issued shares resulting from the percent stock dividend declared on August
Required:
a Prepare journal entries to record the above transactions.
b Compute the number of shares of common stock outstanding at yearend.
c What is the par value per share of HiTech Manufacturing common 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.
April : Distributed additional shares of common 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.
August : Declared a percent stock dividend. Market price of stock was $ per share.
September : Issued shares resulting from the percent stock dividend declared on August
Required:
Prepare journal entries to record the above transactions.
Compute the number of shares of common stock outstanding at yearend.
What is the par value per share of HiTech Manufacturing common stock at the end of the year?
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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