Question
On July 1, 2013, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 100,000 issued and outstanding $ 100,000 Additional
| On July 1, 2013, Jones Corporation had the following capital structure: |
| Common Stock, par $1; 8,000,000 authorized shares, 100,000 issued and outstanding | $ | 100,000 | |
| Additional Paid-in Capital | 90,000 | ||
| Retained Earnings | 170,000 | ||
| Treasury Stock | None | ||
| Required: |
| Complete the following table based on three independent cases involving stock transactions: (Round your "per share" to 2 decimal places.) |
| Case 1: | The board of directors declared and issued a 10 percent stock dividend when the stock price was $8 per share. |
| Case 2: | The board of directors declared and issued a 100 percent stock dividend when the stock price was $8 per share. |
| Case 3: | The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $8 per share. |
| Case 1 | Case 2 | Case 3 | ||
| Items | Before Stock transactions | After 10% Stock Dividend | After 100% stock dividend | After Stock Split |
| # of shares outstanding | ||||
| Par per share | $ 1.00 | |||
| Common Stock | ||||
| Additional Paid-In capital | 90,000 | |||
| Retained Earnings | 170,000 | |||
| Total Stockholders' Equity |
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Auditing A Risk Analysis Approach
Authors: Larry F. Konrath
5th Edition
032405789X, 9780324057898
