Exercise 11-13: Whitacre Company’s stockholders’ equity section of the balance sheet on December 31, 2015, was as follows: Common stock, $10 par value, 60,000 shares issued and outstanding $600,000 Additional pain-in capital 480,000 Retained earnings 1,240,000 Total stockholders’ equity $2,320,000 On May 1, 2016, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. The on November 1, it declared and issued a 2-for-1 stock split. How many shares of stock are outstanding at year-end? What is the par value per share of these shares? Develop the stockholders’ equity category of Whitacre’s balance sheet as of December 31, 2016.
Exercise 11-13: Whitacre Company’s
Common stock, $10 par value, 60,000 shares issued and outstanding $600,000
Additional pain-in capital 480,000
Total stockholders’ equity $2,320,000
On May 1, 2016, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. The on November 1, it declared and issued a 2-for-1 stock split.
- How many shares of stock are outstanding at year-end?
- What is the par value per share of these shares?
- Develop the stockholders’ equity category of Whitacre’s balance sheet as of December 31, 2016.
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