Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outatanding Additional Paid-in Capital Retained

image text in transcribed
On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outatanding Additional Paid-in Capital Retained Earnings Treasury Stock $150,000 106,000 186,000 None Required: Complete the following table based on two independent cases invoving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1 The board of direetors declared and issued a 100 percent atock dividend when the atock price vas $6 per share. Case 21 The board of directors voted a 2-for-1 stock splits The stock price prior to the split was $6 per share. Case 1 Case 2 After 100 % Stock Dividend Before Stock Transactions After Stock Items Split Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Eamings Total Stockholders' Equity $ 1.00 106,000 186,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting IFRS Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

2nd Edition

1118443969, 978-1118443965

More Books

Students also viewed these Accounting questions

Question

a. 2,1,3 b. 2,3,1 c. 3,2,1 d. 1,3,2 e. 1,2,3

Answered: 1 week ago

Question

1. Did each of these groups engage all stakeholders appropriately?

Answered: 1 week ago