Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on july 1, jones corporation had the following cap

On July 1, Jones Corporation had the following capital structure: Common...

70.2K

Verified Solution

Question

Accounting

image
On July 1, Jones Corporation had the following capital structure: Common stock, par $11 8,000,000 authorized shares, 175,000 issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock $175,000 105,000 185,000 None Required: Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share. Case 2 Case 1 After 100% Stock Before Stock Items TransactionsDividend 350,000 $ 1.00 $ 350,000 After Stock Split 350,000 $ 0.50 $ 350,000 $ Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Eamings Total Stockholders' Equity 175,000 1.00 175,000 105,000 185,000 465,000 174,500 $ 524,500 $ 350,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How do ethnocentrism and discrimination relate to one another? Is it possible to be ethnocentric but...

Psychology
Q

9. In 2018, 77% of the population of Netflix consumers in the United States had a...

Advance Math
Q

1 BR 2 BR 3 TOBR2 2 4 BR 2 7 Which of the following...

Physics
Q

2 Three rivers R R2 and R3 merge together to form a river R4 The...

Physics
Q

Which geometric figure has 72 rotational symmetry?A. equilateral triangleB. regular pentagonC. rhombusD. regular hexagon

Basic Math
Q

Find the numerical value of the area under the standard normal curve that is greater...

Algebra
Q

Becton Labs, Inc, produces various chemical compounds for industrial use. One...

Accounting
Q

Please use the following transactions from quarter 3(picture below) to create a journal entry per...

Accounting
Q

Four years ago Alpha Products, Inc. acquired a computer-controlled milling machine to use in its...

Accounting
Q

Estimating Bad Debts Expense and Reporting of Receivables At December 31,2013, Sunil Company had...

Accounting
Q

The IRS has safeguards in place to prevent returns from being selected for audit based...

Accounting
Q

0/ 12.5 Question 6 of 8 View Policies Show Attempt History Current Attempt in Progress...

Finance