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, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $ 1,535,000 sume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Prepare the updated stockholders' equity section after the split. Compute the number of shares outstanding after the split. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below.
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, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $ 1,535,000 sume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Prepare the updated stockholders' equity section after the split. Compute the number of shares outstanding after the split. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kk172.
![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, 60,000 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
Answer is complete but not entirely correct.
Prepare the updated stockholders' equity section after the split.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
$ 600,000
250,000
685,000
$ 1,535,000
Common stock-$10 par value
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 600,000
250,000
685,000
$ 1,535,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71a6b9af-79cd-4d12-a858-098c897cdcbb%2F11119cbd-dfdb-4c77-9d09-1ace240777d3%2F4mfmed7_processed.jpeg&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, 60,000 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
Answer is complete but not entirely correct.
Prepare the updated stockholders' equity section after the split.
SHARPER CORPORATION
Stockholders' Equity Section of the Balance Sheet
June 30
$ 600,000
250,000
685,000
$ 1,535,000
Common stock-$10 par value
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 600,000
250,000
685,000
$ 1,535,000
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