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NEED HELP! I DON'T KNOW WHY IT IS WRONG! Return to question 14 780,000 Common stock ( $5 par value) $ Additional paid-in capital 910.000
NEED HELP! I DON'T KNOW WHY IT IS WRONG!
Return to question 14 780,000 Common stock ( $5 par value) $ Additional paid-in capital 910.000 850,000 Retained earnings Treasury stock 0 10 points Required: Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $7 per share. Case 2: The board of directors announced a 6-for-5 stock split (i.e., a 20 percent increase in the number of shares). The market price prior to the split was $7 per share. Items Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Total stockholders equity Answer is complete but not entirely correct. Before After After Dividend Stock Stock and Split Dividend Split 780,000 $ 1,092,000 780,000 $ 5.00 5.00$ 4.17 156,000 218,400 187,050 X IS 910,000 $ 910,000$ 910,000 $ 850,000 538,000 $ 850,000 $ 2,540,000$ 2,540,000 $ 2,540,000Step by Step Solution
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