´On April 25, 2012, Coca-Cola announced its first stock split in 16 years and only its eleventhstock split since the stock began trading in 1919. In July the stockholders approved the twofor one split, which gave each shareholder one additional share of stock for each share held onJuly 27, 2012. Assume the balance sheet just prior to the stock split is as follows:Common stock, $0.25 par value; Authorized-5,600 million shares;Issued-3,520 million shares$880Capital surplus11,212Reinvested earnings53,550Accumulated other comprehensive income (loss)(2,703)Treasury stock at cost-1,257 million shares(31,304)$31,6351. Assume Coca-Cola accounts for this as a true stock split. Provide any jourmal entries necessary torecord the split. Prepare Coca-Cola's stockholders' equity section immediately after the split.2. Now assume that Coca-Cola accounts for this as a stock split effected in the form of a 100%stock dividend. Prepare any journal entries necessary to record the split. Prepare Coca-Cola'sstockholders' equity section immediately after the split.

In stock split the holding of shares changes while the total capital held remains the same.…

April 25, stock split since the stock began trading in 1919. In July the stockholders approved the two for one split, which gave each shareholder one additional share of stock for each share held on July 27, 2012. Assume the balance sheet just prior to the stock split is as follows: ola announced its first stock split in 16 years and only its eleventh Common stock, $0.25 par value; Authorized-5,600 million shares; Issued-3,520 million shares $ 880 Capital surplus 11,212 Reinvested earnings 53,550 (2,703) _(31,304) $31,635 Accumulated other comprehensive income (loss) Treasury stock at cost-1,257 million shares

April 25, stock split since the stock began trading in 1919. In July the stockholders approved the two for one split, which gave each shareholder one additional share of stock for each share held on July 27, 2012. Assume the balance sheet just prior to the stock split is as follows: ola announced its first stock split in 16 years and only its eleventh Common stock, $0.25 par value; Authorized-5,600 million shares; Issued-3,520 million shares $ 880 Capital surplus 11,212 Reinvested earnings 53,550 (2,703) _(31,304) $31,635 Accumulated other comprehensive income (loss) Treasury stock at cost-1,257 million shares

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 100 million, $5.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $31 on June 13. Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend. What is the par per share after the split? Complete this question by entering your answers in the tabs below. General Journal Par value Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 1 Record the stock split effected in the form of a 100% stock dividend. 4>
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M The Clothing Cove has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $15 per share.. February 6 Issues 1,000 shares of 74 preferred stock for $13 per share.. September 10 Purchases 12,000 shares of its own common stock for $20 per share. December 15 Resells 6,000 shares of treasury stock at $25 per share. In its first year of operations, The Clothing Cove has net income of $140,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $700 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for The Clothing Cove as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) THE CLOTHING COVE Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders'…
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