Homework Answers
| Answer | |||
|
|||
| Question | Account | Debit | Credit |
| Mar 3. 2017 | Retained earnings | $ 72,80,000 | |
| Stock dividend distributable | $ 72,80,000 | ||
| [ 1 new share issued for 1 share @5.6 per share] | |||
| NOTE: Stock dividend recorded at par value. | |||
| Extra Working Note | |||
|
|||
| Mar 3. 2017 | Retained earnings | $ 6,76,000 | |
| Cash dividend payable | $ 6,76,000 | ||
| [ Dividend @0.52 per share for 1.3M shares] | |||
|
|||
| May 24. 2017 | Stock dividend distributable | $ 72,80,000 | |
| Common stock | $ 72,80,000 | ||
| [Stock dividend paid] | |||
|
|||
| May 24. 2017 | Cash dividend payable | $ 6,76,000 | |
| Cash | $ 6,76,000 | ||
| [Cash dividend paid] | |||
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On June 13, the board of directors of Siewert Inc. declared a
2-for-1 stock split on its 60 million, $1.00 par, common shares, to
be distributed on July 1. The market price of Siewert common stock
was $25 on June 13.
Prepare the journal entry to record the stock split if it is to be
effected in the form of a 100% stock dividend. What is the par per
share after the split?
PLEASE NOTE = $.50 and $12.50
were...
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dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
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November 15, 2020, payable on December 1, 2020, to shareholders of
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