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On July 1, 2020, Jones Limited had the following share structure: Common shares (par $1; 200,000 authorized shares; 160,000 issued and outstanding) Contributed surplus Retained
On July 1, 2020, Jones Limited had the following share structure: Common shares (par $1; 200,000 authorized shares; 160,000 issued and outstanding) Contributed surplus Retained earnings $160,000 98,000 182,000 Required: Complete the following table based on three independent cases involving share transactions: (Round your par value answers to 2 decimal places.) Case 1: The board of directors declared and issued a 10 percent stock dividend when the share price was $8.00 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the share price was $8.00 per share. Case 3: The board of directors voted a 2-for-1 stock split. The share price prior to the split was $8.00 per share. Case 1 Case 2 Case 3 Items Before Share Transactions After 10% Stock Dividend After 100% Stock Dividend After Stock Split $ 1 $ 0 $ 0 $ 0 $ 0 Number of shares outstanding Par per share Common shares account Contributed surplus Retained Earnings Total shareholders' equity 98,000 182,000 280,000 $ $ 0 $ 0 $ 0
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