Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on september 1, ziegler corporation had 59,000 sha

On September 1, Ziegler Corporation had 59,000 shares of $5 par value common stock, and...

90.2K

Verified Solution

Question

Accounting

On September 1, Ziegler Corporation had 59,000 shares of $5 par value common stock, and $177,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is:

  • No entry is made for this transaction.

  • Debit Retained Earnings $295,000; credit Common Stock $295,000.

  • Debit Retained Earnings $885,000; credit Common Stock $885,000.

  • Debit Retained Earnings $295,000; credit Stock Split Payable $295,000.

  • Debit Retained Earnings $885,000; credit Common Stock Split Distributable $885,000.

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

Suppose that you are a chain smoker. One day you are fired, and your boss says...

Operations Management
Q

63. Ethylene, C2H4, used to make polyethylene plastics, can be made from ethane, C2H6, one of...

Chemistry
Q

How might temperature related changes in protein structure explain changes in nerve conduction velocity under different temperature...

Medical Sciences
Q

You make a karyotype from a cell and observe that the cell has 10 chromosomes....

Biology
Q

Question I found myself with high expectations and a certain belief that whatever perplexities and...

Biology
Q

15 Angle of Depression From a plane 3 000 feet in the air the angle...

Calculus
Q

The following information is available for a company's maintenance cost over the last seven...

Accounting
Q

1.33 points imperial Jewelers is considening a special order for 23 handrafted gold bracelets to...

Accounting
Q

please make answer neat & clearly typed answer is better The incorporation of...

Accounting
Q

The company uses a perpetual inventory system. REQUIRED: Determine the cost assigned to ending inventory...

Accounting
Q

Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no...

Accounting
Q

Question 1 Happy Drink Ltd is the licensed bottler of a reputable overseas beverage company...

Accounting