On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 90,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Exercise 11-9 (Algo) Stock split LO P2 Cunu $ 900,000 400,000 760,000 $ 2,060,000 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split.
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 90,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Exercise 11-9 (Algo) Stock split LO P2 Cunu $ 900,000 400,000 760,000 $ 2,060,000 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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![On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock
dividend or split. Sharper declares and immediately distributes a 50% stock dividend.
Common stock-$10 par value, 90,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Exercise 11-9 (Algo) Stock split LO P2
Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split.
(1) Prepare the updated stockholders' equity section after the split.
(2) Compute the number of shares outstanding after the split.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare the updated stockholders' equity section after the split.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
Total stockholders' equity
$
$ 900,000
400,000
760,000
$ 2,060,000
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96ccea39-6e20-4e83-b9fb-b22d2ae10407%2F84abf6cf-8bcb-405c-a680-2ecd108d08da%2Ftme77hi_processed.png&w=3840&q=75)
Transcribed Image Text:On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock
dividend or split. Sharper declares and immediately distributes a 50% stock dividend.
Common stock-$10 par value, 90,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Exercise 11-9 (Algo) Stock split LO P2
Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split.
(1) Prepare the updated stockholders' equity section after the split.
(2) Compute the number of shares outstanding after the split.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare the updated stockholders' equity section after the split.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
Total stockholders' equity
$
$ 900,000
400,000
760,000
$ 2,060,000
0
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