[The following information applies to the questions displayed below.]On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stockdividend or split. Sharper declares and immediately distributes a 50% stock dividend.Common stock-$10 par value, 86,000 shares issued andoutstanding$ 860,000Paid-in capital in excess of par value, common stock.Retained earnings380,000750,000Total stockholders' equity.$1,990,000Exercise 11-8 (Algo) Large stock dividend LO P2(1) Prepare the updated stockholders' equity section after the distribution is made.(2) Compute the number of shares outstanding after the distribution is made.Complete this question by entering your answers in the tabs below.

Working Note: No. of shares issued under stock dividend = No. of shares outstanding x stock dividend…

Answered: On June 30, Sharper Corporation's…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Required information [The following information applies to the questions displayed below] 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, 68,000 shares issued and outstanding Paid-in capital in excess of per value, common stock Retained earnings Total stockholders' equity Complete this question by entering your answers in the tabs below. 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. Required 1 Required 2 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock-$3.33 par value Paid-in capital in excess of par value, common stock…
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, 74,000 shares issued and outstanding $ 740,000Paid-in capital in excess of par value, common stock 320,000Retained earnings 720,000Total stockholders’ equity $ 1,780,000 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. Complete this question by entering your answers in the tabs below. Required 1Required 2Prepare the updated stockholders' equity section after the split. SHARPER CORPORATIONStockholders’ Equity Section of the Balance SheetJune 30Total stockholders’ equity $0
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Required information [The following information applies to the questions displayed below.] 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, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 500,000 200,000 660,000 Total stockholders' equity $1,360,000 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required: (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…
The stockholders' equity section of Ayayai Corp.'s balance sheet consists of common stock ($7 par) $840,000 and retained earnings $400,000. A 10% stock dividend (12,000 shares) is declared when the market price per share is $15. (a) Show the before-and-after effects of the dividend on the components of stockholders' equity. Before Dividend After Dividend $4 $ $4 (b) Show the before-and-after effects of the dividend on the shares outstanding. Before Dividend After Dividend Outstanding shares >
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, 88,000 shares issued and outstanding $ 880,000 Paid - in capital in excess of par value, common stock 390,000 Retained earnings 755,000 Total stockholders' equity $ 2,025,000 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Navigation: Use the Open Excel in New Tab button to launch this question. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.
Subject: accounting
calculations for journal entries needed
At the start of the current year, Mundo Company’s stockholders’ equity account appeared as follows: Common stock, P15 par value; authorized 200,000 shares; issued and outstanding, 150,000 shares 2,250,000 Paid-in capital in excess of par 300,000 Retained earnings 5,000,000 Total 7,550,000 During the year, Mundo entered into the following transactions: May 1 Acquired 30,000 shares of its stock for P1,600,000. June 1 Reissued 15,000 treasury shares at P19 per share. July 1 Declared a cash dividend of P1.50 for holders on record on July 30 to be distributed on January of next year October 1 Reissued 10,000 treasury shares at P16 per share. December 1 Retired the remaining treasury shares. The total stockholders’ equity reported in the current year statement of financial position is Group of answer choices 6,395,000 6,215,000 6,192,500 6,170,000
Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 6.5% cumulative preferred stock, $100 par value; authorized, 18,000 shares; issued and outstanding, 9,000 shares Common stock, $4 par value; authorized, 340,000 shares; issued and outstanding, 204,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was: Multiple Choice O $52.50. $100.00. $105.00. $ 900,000 $ 816,000 $ 45,000 $ 1,500,000 $ 920,000
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, 120,000 shares authorized, 88,000 shares issued and outstanding $ 880,000 Paid-in capital in excess of par value, common stock 390,000 Retained earnings 755,000 Total stockholders’ equity $ 2,025,000 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required:(1) Prepare the updated stockholders' equity section after the split.(2) Compute the number of shares outstanding after the split.
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