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The stockholders' equity section of Jun Co.'s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend.
The stockholders' equity section of Jun Co.'s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $20 (prior to the dividend). Common stock-$5 par value, 575,000 shares authorized, 300,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,500,000 690,000 933,000 $3,123,000 Prepare the stockholders' equity section immediately after the stock dividend is distributed. Answer is complete but not entirely correct. JUN CO. $ 1,500,000 Stockholders' Equity April 2 (after stock dividend) Common stock Paid-in capital in excess of par value, common stock Total paid-in capital Retained earnings Total stockholders' equity 690,000 X 2,190,000 933,000 $ 3,123,000
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