Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on june 30, 2017, sharper corporation's common sto

On June 30, 2017, Sharper Corporation's common stock is priced at $33.50 per share before...

60.1K

Verified Solution

Question

Accounting

image
On June 30, 2017, Sharper Corporation's common stock is priced at $33.50 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows. Common stock-$8 par value, 65,000 shares authorized, 26,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity s208,000 100,000 308,000 616,000 I. Assume that the company declares and immediately distributes a 100% stock dividend. This event is recorded by capitalizing s retained earnings equal to the stock's par value. Answer these questions about stockholders' equity as it exists after issuing the new shares a.b.& c.Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares 2. Assume that the company implements a 2-for-1 stock split instead of the stock dividend in part 1. Answer these questions about stockholders' equity as it exists after issuing the new shares a.b.&c.Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares. Complete this question by entering your answers in the tabs below

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The following transactions and events that occurred in the village of Kowitt Gorge during the calendar...

Accounting
Q

1. A) Mountain rescue officers trigger an avalanche by firing a gun at a distant mountain slope....

Physics
Q

Richard and Kevin decided to go for ice cream after work on Friday to celebrate Kevin's...

General Management
Q

06 2 SLO 11b APPLYING You count the number of cytosine C nitrogenous bases in...

Biology
Q

Suppose you were to use calculus techniques i e those from the lecture 22 notes...

Calculus
Q

nd the distance between the point and the line given by the set of parametric...

Algebra
Q

4 y 8x 18x 9

Algebra
Q

solve it through EXCEl Consider a European option on a non-dividend-paying stock when the stock...

Accounting
Q

List the purposes of audit documentation and explain why each purpose is important. List the...

Accounting
Q

QUESTION TWO (20marks) Distinguish between a procedural audit and a balance sheet audit (8marks)...

Accounting
Q

Boswell company reported the following information for the current year: Sales (40,000 units) $800,000, direct...

Accounting
Q

Question 1 (20 Marks) 5 Consider a job set represented with the precedence graph illustrated...

Finance