Question
On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 115,000 issued and outstanding $ 115,000 Additional Paid-in
On July 1, Jones Corporation had the following capital structure:
| Common Stock, par $1; 8,000,000 authorized shares, 115,000 issued and outstanding | $ | 115,000 | |
| Additional Paid-in Capital | 93,000 | ||
| Retained Earnings | 173,000 | ||
| Treasury Stock | None | ||
Required: Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.)
| Case 1: | The board of directors declared and issued a 100 percent stock dividend when the stock price was $8 per share. |
| Case 2: | The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $8 per share. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
