Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on july 1, jones corporation had the following cap

On July 1, Jones Corporation had the following capital structure: Common...

70.2K

Verified Solution

Question

Accounting

image
On July 1, Jones Corporation had the following capital structure: Common stock, par $11 8,000,000 authorized shares, 175,000 issued and outstanding Additional Paid-in Capital Retained Earnings Treasury Stock $175,000 105,000 185,000 None Required: Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share. Case 2 Case 1 After 100% Stock Before Stock Items TransactionsDividend 350,000 $ 1.00 $ 350,000 After Stock Split 350,000 $ 0.50 $ 350,000 $ Number of Shares Outstanding Par Per Share Common Stock Account Additional Paid-in Capital Retained Eamings Total Stockholders' Equity 175,000 1.00 175,000 105,000 185,000 465,000 174,500 $ 524,500 $ 350,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Jeff is a 57-year-old male with a long history of type 1 diabetes. He takes insulin...

Basic Math
1.2K views

At the beginning of an experiment, a scientist has 244 grams of radioactive goo. After...

Basic Math
1.2K views

What is the common ratio of the following sequence?-5, -20, -80, ...0404-4

Calculus
1.2K views

g Find the equation of the major axis h Find the equation of the minor...

Algebra
1.2K views

Law of Cosines Determine the approximate measure of angle E D O 70 5 O...

Accounting
1.2K views

Prepare an income statement for the year ending December 31, 2025. WILDHORSE CO. Income Statement...

Accounting
1.2K views

Freda is a cash basis taxpayer. In 2023, she negotiated her salary for 2024. Her...

Accounting
1.2K views

Please answer a and b. Problem 9-33 (Algorithmic) (LO. 5) Melanie is employed...

Accounting
1.2K views

Rob and Wilma formed Apollo Corporation as an S corporation, with each shareholder contributing $7,000...

Accounting
1.2K views

What is the depreciable period , in terms of QBI deduction, for non-residential real Estate?...

Accounting
1.2K views

! Required information PA11-1(Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing...

Accounting
1.2K views

As of Dec , 2017, XY Core in the 100.000 1.01 XYZhanged to Ourent 200.000