. On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to bedistributed on July 1. The market price of Siewert common stock was $23 on June 13.Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per shareafter the split?Complete this question by entering your answers in the tabs below.GeneralJournalPar valuePrepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. (If no entry is required for atransaction/event, select "No journal entry required" in the first account field.)View transaction listJournal entry worksheet1Record the stock split.Note: Enter debits before credits.Event1General JournalDebitOn June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to bedistributed on July 1. The market price of Siewert common stock was $23 on June 13.CreditPrepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per shareafter the split?Par valueComplete this question by entering your answers in the tabs below.GeneralJournalWhat is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.)Par valueper share< General Journal

If Stock split does not effect in form of stock dividend then their is no requirement for journal…

Answered: On June 13, the board of directors of…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter15: Shareholders’ Equity: Capital Contributions And Distributions

Section: Chapter Questions

Problem 13E

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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, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $21 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?
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