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, 74,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 740,000 320,000 720,000 $ 1,780,000 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the distribution is made. Number of common shares outstanding
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, 74,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 740,000 320,000 720,000 $ 1,780,000 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the distribution is made. Number of common shares outstanding
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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, 74,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 740,000
320,000
720,000
$ 1,780,000
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Compute the number of shares outstanding after the distribution is made.
Number of common shares outstanding
<Required 1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6ccdcf79-78d2-4137-a0b2-392ece22d1a5%2F84c85e4b-718a-4adc-9711-1712435ea46e%2F0dp1oog_processed.png&w=3840&q=75)
Transcribed Image Text: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, 74,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 740,000
320,000
720,000
$ 1,780,000
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Compute the number of shares outstanding after the distribution is made.
Number of common shares outstanding
<Required 1
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