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 >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
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
Retained earnings
Total stockholders' equity
< Required 1
$ 1.020.000
$ 1.020,000
$ 680,000
290,000
Required 2 >
705,000
$ 1,675,000
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 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 2
Compute the number of shares outstanding after the split.
Number of common shares outstanding
< Required 1
$ 600.000
290,000
705,000
$1,675,000
Required 2 >
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, 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 Retained earnings Total stockholders' equity < Required 1 $ 1.020.000 $ 1.020,000 $ 680,000 290,000 Required 2 > 705,000 $ 1,675,000 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 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 2 Compute the number of shares outstanding after the split. Number of common shares outstanding < Required 1 $ 600.000 290,000 705,000 $1,675,000 Required 2 >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education