At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings. $ 468,000 121,000 748,000 On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below.
At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the following: Common stock ($13 par value; 84,000 shares authorized, 36,000 shares outstanding) Additional paid-in capital Retained earnings. $ 468,000 121,000 748,000 On February 1, the board of directors declared a 60 percent stock dividend to be issued April 30. The market value of the stock on February 1 was $16 per share. The market value of the stock on April 30 was $18 per share. Required: 1. Complete the following table: 3. If instead of declaring a stock dividend the company had announced a 3-for-1 stock split, how would total stockholders' equity be affected? Complete this question by entering your answers in the tabs below.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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