QS 13-8 (Algo) Reporting a small stock dividend LO P2 The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10 stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend). Common stock-$5 par value, 485,000 shares authorized, 255,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained, earnings Total stockholders' equity Prepare the stockholders' equity section immediately after the stock dividend is distributed. $ 1,275,000 600,000 888,000 $ 2,763,000
QS 13-8 (Algo) Reporting a small stock dividend LO P2 The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10 stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend). Common stock-$5 par value, 485,000 shares authorized, 255,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained, earnings Total stockholders' equity Prepare the stockholders' equity section immediately after the stock dividend is distributed. $ 1,275,000 600,000 888,000 $ 2,763,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:QS 13-8 (Algo) Reporting a small stock dividend LO P2
The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10%
stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend).
Common stock-$5 par value, 485,000 shares
authorized, 255,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained, earnings
Total stockholders' equity
Prepare the stockholders' equity section immediately after the stock dividend is distributed.
JUN COMPANY
Stockholders' Equity
April 2 (after stock dividend)
Common stock
Paid-in capital in excess of par value, common stock
Total paid-in capital
Retained earnings
Total stockholders' equity
$ 1,402,500
1,402,500
$ 1,275,000
600,000
888,000
$ 2,763,000
$ 1,402,500
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