On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $17 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 60 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $17 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?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 5SEA: STOCK SPLIT Goldstein Company has 100,000 shares of 10 par common stock outstanding. On July 1, the...

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Subject: accounting
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