Homework Answers
Solution b:
Nos of common shares outstanding after split = 220000*3 = 660000 shares
Par value per share after split = $8 / 3 = $2.67 per share
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The market value of Yeates Corporation's common stock had become excessively high. The stock was currently...
The market value of Yeates Corporation's common stock had become excessively high. The stock was currently...
The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $320 per share. To reduce the market price of the common stock, Yeates declared a 2-for-1 stock split for the 280,000 outstanding shares of its $8 par value common stock Required b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per...
Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7 The...
Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $420 per share. To reduce the market price of the common stock, Yeates declared a 5-for-1 stock split for the 380,000 outstanding shares of its $12 par value common stock Required b. Determine the number of common shares outstanding and the par value after the split. (Round...
- Live NBA Streaming. Maintenance Conn... Connect - Sign In The GOAT. Let's gra... ework Saved...
- Live NBA Streaming. Maintenance Conn... Connect - Sign In The GOAT. Let's gra... ework Saved Help Save & Exit Su Check my wo Exercise 8-16 Determining the effects of stock splits on the accounting records LO 8-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $270 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 310,000 outstanding shares of...
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On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value)...
On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value) Additional paid-in capital Retained earnings Treasury stock $ 606,000 1,040,000 770,000 Required: Complete the table below for each of the two following independent cases: ((Round "Par value per share" amounts to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $6 per share. Case 2: The board of directors announced...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional paid-in capital Retained earnings Treasury stock S 660,000 1,040,000 850,000 Required Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $5 per share Case 2: The board of directors announced a...
On June 18, Selma Corp. had 20,000 shares of $6 par value common stock outstanding before...
On June 18, Selma Corp. had 20,000 shares of $6 par value common stock outstanding before it declared a 2-for-1 stock split. 1 Right before the split, its stock was selling for $50 per share. Required: Answer the two questions below. Question #1: After the split, how many shares of common stock are outstanding? Answer: Question #2: How is a stock split likely to affect the market price of company's stock at the time of the split? Answer:
Styles LO 11-5 Exercise 11-128 Treasury stock transactions Earles Corporation repurchased 4,000 shares of its own...
Styles LO 11-5 Exercise 11-128 Treasury stock transactions Earles Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par value of $10 per share. A month later, Earles resold 2,500 shares of the treasury stock for $35 per share Required What is the balance of the treasury stock account after these transactions? Summary of Treasury Stock Account 1. 2. Accounting for stock dividends Exercise 11-15B LO 11-7 Egrett Corporation issued a 4 percent...
A corporation, which had 37,400 shares of common stock outstanding, declared a 4-for-1 stock split. (a)...
A corporation, which had 37,400 shares of common stock outstanding, declared a 4-for-1 stock split. (a) What will be the number of shares outstanding after the split? (b) If the common stock had a market price of $96 per share before the stock split, what would be an approximate market price per share after the split? $__ per share? (c) Is a journal entry required for a stock split? Yes or no?
11)Bill issued 200,000 shares of $2 par value stock. The book value of Bill’s common stockholders'...
11)Bill issued 200,000 shares of $2 par value stock. The book value of Bill’s common stockholders' equity is equal to $20 million. On August 1, he implements a two-for-one stock split. After the stock split, the total number of shares outstanding is 400000 shares, the total par value is $1 and the total book value is $20 million. 12) Assuming the market price per share of Bill’s stock was $150/share before the split, what should be the market price per...
The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $320 per share. To reduce the market price of the common stock, Yeates declared a 2-for-1 stock split for the 280,000 outstanding shares of its $8 par value common stock Required b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per...
Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $420 per share. To reduce the market price of the common stock, Yeates declared a 5-for-1 stock split for the 380,000 outstanding shares of its $12 par value common stock Required b. Determine the number of common shares outstanding and the par value after the split. (Round...
- Live NBA Streaming. Maintenance Conn... Connect - Sign In The GOAT. Let's gra... ework Saved Help Save & Exit Su Check my wo Exercise 8-16 Determining the effects of stock splits on the accounting records LO 8-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $270 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 310,000 outstanding shares of...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividend, the market value of the stock was $24 per share. Required c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) Answer is not complete. No Event General Journal Credit Debit 18,300 Common stock 10,980 Weaver Corporation had the following...
On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value) Additional paid-in capital Retained earnings Treasury stock $ 606,000 1,040,000 770,000 Required: Complete the table below for each of the two following independent cases: ((Round "Par value per share" amounts to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $6 per share. Case 2: The board of directors announced...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional paid-in capital Retained earnings Treasury stock S 660,000 1,040,000 850,000 Required Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $5 per share Case 2: The board of directors announced a...
On June 18, Selma Corp. had 20,000 shares of $6 par value common stock outstanding before it declared a 2-for-1 stock split. 1 Right before the split, its stock was selling for $50 per share. Required: Answer the two questions below. Question #1: After the split, how many shares of common stock are outstanding? Answer: Question #2: How is a stock split likely to affect the market price of company's stock at the time of the split? Answer:
Styles LO 11-5 Exercise 11-128 Treasury stock transactions Earles Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par value of $10 per share. A month later, Earles resold 2,500 shares of the treasury stock for $35 per share Required What is the balance of the treasury stock account after these transactions? Summary of Treasury Stock Account 1. 2. Accounting for stock dividends Exercise 11-15B LO 11-7 Egrett Corporation issued a 4 percent...
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