On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 40 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $15 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?

On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 40 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $15 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?

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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