### 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.| Description | Amount ||----------------------------------------------------|------------|| Common stock—$10 par value, 120,000 shares authorized, 82,000 shares issued and outstanding | $820,000 || Paid-in capital in excess of par value, common stock | $360,000 || Retained earnings | $740,000 || **Total stockholders’ equity** | **$1,920,000** |### Required:1. **Prepare the updated stockholders’ equity section after the distribution is made.**2. **Compute the number of shares outstanding after the distribution is made.**### Instructions:Complete this question by entering your answers in the tabs below.#### Required 1Prepare the updated stockholders’ equity section after the distribution is made.**SHARPER CORPORATION**- **Stockholders’ Equity Section of the Balance Sheet**- **June 30**| Description | Amount ||---------------------------------|------------|| | || | || | || **Total stockholders’ equity** | |Complete and proceed to Required 2.

Requlred Informatlon [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-$1e par value, 120,000 shares authorized, 82,e00 shares issued and outstanding Paid-in capital in excess of par value, common stock S 820, e00 360, eee Retained earnings 748,e0e Total stockholders' equity $1,920, eee Requlred: (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 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Total stockholders' equity

Requlred Informatlon [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-$1e par value, 120,000 shares authorized, 82,e00 shares issued and outstanding Paid-in capital in excess of par value, common stock S 820, e00 360, eee Retained earnings 748,e0e Total stockholders' equity $1,920, eee Requlred: (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 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Total stockholders' equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1, 2021: Preferred shares, 0.90, 300,000 issued and outstanding $6,000,000 Common shares, 400,000 issued and outstanding $4,400,000 For This Question Only, assume that the company declared/distributed a 5% stock dividend on January 2, 2021 when the market price of the common shares was $10.50 each, prior to this dividend. What entry, if any, should WTI make to record this transaction? Select one: a. No Journal Entry required for this transaction. Only a Proforma Entry should be made. b. DR Retained Earnings, $210,000; CR Common Shares, $210,000 c. DR Retained Earnings, $200,000; CR Common Shares, $200,000 d. DR Retained Earnings, $220,000; CR Common Shares, $220,000 e. DR Retained Earnings, $225,000; CR Common Stock Dividend Distributable, $225,000.
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Question Six: The following accounts appear in the ledger of Alico Corporation after the books are closed at December 31, 2019. Common Stock, $2 par value, 700,000 shares authorized, 400,000 shares issued Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 2,000 shares issued Retained Earnings Treasury Stock (10,000 common shares) Paid-in Capital in Excess of Par Value Preferred Stock Required: Prepare the stockholders' equity section at December 31, 2019. .$800,000 .750,000 .200,000 1,000,000 .85,000 .410,000
On January 1, 2018, Vermont Maple Corp. had 2,650,000 shares of commons stock issued and outstanding. During 2018, it had the following transactions that affected the common stock account:
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Subject: acounting
Subject: accounting
A3
Post these transaction to T account .
Use the following information for the Exercises 8-9 below. (Algo) [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, 76,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Exercise 11-9 (Algo) Stock split LO P2 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 Prepare the updated stockholders' equity section after the split. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 <…
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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, 120,000 shares authorized, 88,000 shares issued and outstanding $ 880,000 Paid-in capital in excess of par value, common stock 390,000 Retained earnings 755,000 Total stockholders’ equity $ 2,025,000 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required:(1) Prepare the updated stockholders' equity section after the split.(2) Compute the number of shares outstanding after the split.