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Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1. On August 1, Jones declared a 5% stock dividend, followed by a two-for- one stock split on September 1. What amount should Jones report as common shares outstanding at December 31? a) 50,000 b) 105,000 c) 100,000 d) 52,500

Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1. On August 1, Jones declared a 5% stock dividend, followed by a two-for- one stock split on September 1. What amount should Jones report as common shares outstanding at December 31? a) 50,000 b) 105,000 c) 100,000 d) 52,500

FINANCIAL ACCOUNTING
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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Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1. On August 1, Jones declared a 5% stock dividend, followed by a two-for- one stock split on September 1. What amount should Jones report as common shares outstanding at December 31? a) 50,000 b) 105,000 c) 100,000 d) 52,500
Transcribed Image Text:Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1. On August 1, Jones declared a 5% stock dividend, followed by a two-for- one stock split on September 1. What amount should Jones report as common shares outstanding at December 31? a) 50,000 b) 105,000 c) 100,000 d) 52,500
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