Question
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1.00 par, common shares, to be
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13.
Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. What is the par per share after the split?
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
