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home / study / business / accounting / questions and answers / please see below... accounting for stock dividends ... Question Please see below... Accounting
home / study / business / accounting / questions and answers / please see below... accounting for stock dividends ... Question Please see below... Accounting for Stock Dividends and Stock Splits The Irvine Corporation reported the following data at year-end: Common stock, par value $1 $100,000 Additional paid-in-capital 300,000 Retained earnings 1,400,000 Treasury shares (600,000) Other comprehensive income 200,000 Total shareholders equity $1,400,000 The following transactions occurred during the year in the following sequence: Declared and distributed a 10% stock dividend on the outstanding common shares at a time when the common shares were selling for $15 per share. Declared a 3-for-2 forward stock split on the outstanding common shares. Declared and issued a 20% stock dividend on the outstanding common shares at a time when the shares were selling for $30 per share. Declared a 2-for-1 forward stock split on the outstanding common shares. Calculate the par value per share and number of shares outstanding at year-end. Prepare the shareholders equity section of the balance sheet for the Irvine Corporation at year-end. I haven't seen a correct answer for this post yet.
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