Question
On June 13, the board of directors of Siewert Inc. declared a 3-for-1 stock split on its 40 million, $9 par, common shares, to be
On June 13, the board of directors of Siewert Inc. declared a 3-for-1 stock split on its 40 million, $9 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $26 on June 13.
Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend.
| Paid-in capital - excess of par | |
| Common stock |
What is the par per share after the split?
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The Board Of Directors And Audit Committee Guide To Fiduciary Responsibilities Ten Critical Steps To Protecting Yourself And Your Organization
Authors: Sheila Moran CPA CFE, Ronald Kral CPA CMA
1st Edition
0814431666, 978-0814431665
