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Use the following information for the Exercises 8-9 below. (Algo) Skip to question [The following information applies to the questions displayed below.] On June 30,
Use the following information for the Exercises 8-9 below. (Algo)
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[The following information applies to the questions displayed below.]
On June 30, Sharper Corporations stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend.
Common stock$10 par value, 86,000 shares issued and outstanding | $ 860,000 |
---|---|
Paid-in capital in excess of par value, common stock | 380,000 |
Retained earnings | 750,000 |
Total stockholders equity | $ 1,990,000 |
Exercise 13-8 (Algo) Large stock dividend LO P2
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.
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