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, 105,000 issued and outstanding Additional Paid-in Capital

image text in transcribed

On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 105,000 issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock Required: $ 105,000 91,000 171,000 None Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 11 The board of directors declared and issued a 100 percent stock dividend when the stock price was $7 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $7 per share. Case 1 Case 2 After 100% Before Stock Transactions Stock Dividend After Stock Split Items Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital Retained Earnings 91,000 171,000 Total Stockholders' Equity $ 262,000 $ 0 $

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

Step: 3

blur-text-image

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

Forensic Accounting

Authors: Robert Rufus, Laura Miller, William Hahn

1st Edition

133427528, 133050475, 9780133427523, 978-0133050479

More Books

Students also viewed these Accounting questions