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On July 1st company had the following, Common stock ( $3 par value) $ 798,000 Additional paid-in capital 1,090,000 Retained earnings 830,000 Treasury stock 0
On July 1st company had the following,
Common stock ( $3 par value) $ 798,000 Additional paid-in capital 1,090,000 Retained earnings 830,000 Treasury stock 0 Required: Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 50 percent stock dividend when the stock was selling at $5 per share. Case 2: The board of directors announced a 6-for-5 stock split (i.e., a 20 percent increase in the number of shares). The market price prior to the split was $5 per share. Items Before Dividend and Split After Stock Dividend After Stock Split Common stock account $ 3.00 Par value per share Shares outstanding Additional paid-in capital Retained earnings Total stockholders' equity $ 1,090,000 830,000Step by Step Solution
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