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? Complete this question by entering your answers in the tabs below. General Journal Par value Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list View journal entry worksheet No Event General Journal 1 1 Paid-in capital-excess of par Common stock < General Journal Par value > Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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?
Complete this question by entering your answers in the tabs below.
General
Journal
Par value
Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend. (If no entry is required for
a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should
be entered as 10).)
View transaction list
View journal entry worksheet
No
Event
General Journal
1
1
Paid-in capital-excess of par
Common stock
< General Journal
Par value >
Debit
Credit
Transcribed Image Text: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? Complete this question by entering your answers in the tabs below. General Journal Par value Prepare the journal entry to record the stock split if it is to be effected in the form of a 100% stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list View journal entry worksheet No Event General Journal 1 1 Paid-in capital-excess of par Common stock < General Journal Par value > Debit Credit
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