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On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outstanding Additional Paid-in Capital Retained Earnings $ 150,000 106,000 186,000 None Treasury Stock 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. Items Case 1 Case 2 Before Stock Transactions After 100% Stock Dividend After Stock Split Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital 106,000 Retained Earnings 186,000 Total Stockholders' Equity $ 292,000 $ 0 $ 0

On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outstanding Additional Paid-in Capital Retained Earnings $ 150,000 106,000 186,000 None Treasury Stock 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. Items Case 1 Case 2 Before Stock Transactions After 100% Stock Dividend After Stock Split Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital 106,000 Retained Earnings 186,000 Total Stockholders' Equity $ 292,000 $ 0 $ 0

FINANCIAL ACCOUNTING
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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On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outstanding Additional Paid-in Capital Retained Earnings $ 150,000 106,000 186,000 None Treasury Stock 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. Items Case 1 Case 2 Before Stock Transactions After 100% Stock Dividend After Stock Split Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital 106,000 Retained Earnings 186,000 Total Stockholders' Equity $ 292,000 $ 0 $ 0
Transcribed Image Text:On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 150,000 issued and outstanding Additional Paid-in Capital Retained Earnings $ 150,000 106,000 186,000 None Treasury Stock 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. Items Case 1 Case 2 Before Stock Transactions After 100% Stock Dividend After Stock Split Number of Shares Outstanding Par Per Share $ 1.00 Common Stock Account Additional Paid-in Capital 106,000 Retained Earnings 186,000 Total Stockholders' Equity $ 292,000 $ 0 $ 0
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