On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 110,eee issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock Required: Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $7 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $7 per share. Hems Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Earnings Total Stockholders' Equity Before Stock Transactions $ $ 1.00 Case 1 After 100% Stock Dividend 92.000 172,000 264,000 $ Case 2 After Stock Split $ 110,000 92,000 172,000 None 05 0
On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 110,eee issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock Required: Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $7 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $7 per share. Hems Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Earnings Total Stockholders' Equity Before Stock Transactions $ $ 1.00 Case 1 After 100% Stock Dividend 92.000 172,000 264,000 $ Case 2 After Stock Split $ 110,000 92,000 172,000 None 05 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On July 1, Jones Corporation had the following capital structure:
Common Stock, par $1; 8,000,000 authorized shares, 110,000 issued and
outstanding
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Required:
Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal
places.)
Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $7 per share.
Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $7 per share.
Items
Number of Shares Outstanding i
Par Per Share
Common Stock Account
Additional Paid-in Capital
Retained Earnings
Total Stockholders' Equity
Before Stock
Transactions
$
$
1.00
Case 1
After 100%
Stock
Dividend
92.000
172,000
264,000 $
Case 2
After Stock
Split
$ 110,000
92,000
172,000
None
0$
0
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