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 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 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Required 2 Common stock-$3.33 par value Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity Required 1 $ 1,020,000 $ 680,000 290,000 705,000 $ 1,675,000 $ 1.020.000 Required 2 >
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 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 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Required 2 Common stock-$3.33 par value Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity Required 1 $ 1,020,000 $ 680,000 290,000 705,000 $ 1,675,000 $ 1.020.000 Required 2 >
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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