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, 52,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 520,000 210,000 665,000 $ 1,395,000 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, 52,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 520,000 210,000 665,000 $ 1,395,000 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare the updated stockholders' equity section after the split.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
Total stockholders' equity
Show Transcribed Text
Required 1
Complete this question by entering your answers in the tabs below
ů
Required 2
Compute the number of shares outstanding after the split.
Number of common shares outstanding
![[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, 52,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings.
Total stockholders' equity
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 21
$ 520,000
210,000
665,000
$ 1,395,000
Bu the rit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac92dbf6-898b-4a56-aeb2-f055afd4d544%2Fe39084b6-29e9-4d6e-b9f0-4d26d008b2fd%2Ffeyjt6h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[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, 52,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings.
Total stockholders' equity
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 21
$ 520,000
210,000
665,000
$ 1,395,000
Bu the rit
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