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 stock, par $11 8,000,000...

80.2K

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

Consider a student club consisting of 8 males and 11 females. How many ways can...

Algebra
Q

Make forward kinematics of 6 DOF robotic arm manipulator using ROS or Adams

Mechanical Engineering
Q

HIS SECOUNT COndins 20 questions Caur questommas 4 upons for correct answer Munupre Choice Questions...

Physics
Q

Avicenna an insurance company offers five year commercial property insurance policies to small businesses If...

Algebra
Q

Renaldo has pretax book income of $874,000. The following expenses were subtracted in arriving at...

Accounting
Q

Efficiency as defined by how well the firm utilized resources in meeting the actual level...

Accounting
Q

Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining...

Accounting
Q

Which of the following are generally recorded as liabilities on the balance sheet if the...

Accounting
Q

The following are typical questions that might appear on an internal control questionnaire for accounts...

Accounting
Q

! Required information [The following information applies to the questions displayed below.] ...

Accounting
Q

Thank you! No. Date Account Titles and Explanation Debit Credit Dlscount on Bond Issue...

Accounting
Q

In what sense does a pro-forma analysis allow you to spell out all the components...

Finance