The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 15% stock dividend. The stock’s per share market value on April 2 is $20 (prior to the dividend). Common stock—$5 par value, 405,000 shares authorized, 215,000 shares issued and outstanding $ 1,075,000 Paid-in capital in excess of par value, common stock 520,000 Retained earnings 848,000 Total stockholders' equity $ 2,443,000 Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 15% stock dividend. The stock’s per share market value on April 2 is $20 (prior to the dividend). Common stock—$5 par value, 405,000 shares authorized, 215,000 shares issued and outstanding $ 1,075,000 Paid-in capital in excess of par value, common stock 520,000 Retained earnings 848,000 Total stockholders' equity $ 2,443,000 Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The
| Common stock—$5 par value, 405,000 shares authorized, 215,000 shares issued and outstanding |
$ 1,075,000 |
|---|---|
| Paid-in capital in excess of par value, common stock | 520,000 |
| 848,000 | |
| Total stockholders' equity | $ 2,443,000 |
Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
Transcribed Image Text:The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 15%
stock dividend. The stock's per share market value on April 2 is $20 (prior to the dividend).
Common stock-$5 par value, 405,000 shares
authorized, 215,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Prepare the stockholders' equity section immediately after the stock dividend is distributed.
JUN COMPANY
Stockholders' Equity
April 2 (after stock dividend)
Common stock
Paid-in capital in excess of par value, common stock
Total paid-in capital
Retained earnings
Total stockholders' equity
$ 1,075,000
1,075,000
$ 1,075,000
520,000
848,000
$ 2,443,000
$ 1,075,000
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