E11-22 (Algo) Analyzing Stock Dividends and Comparing to Stock Splits LO11-6 At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the follow Common stock ($14 par value; 67,000 shares authorized, 40,000 shares outstanding) Additional paid-in capital Retained earnings $ 560,000 135,000 755,000 On February 1, the board of directors declared a 65 percent stock dividend to be issued April 30. The market value of the stock February 1 was $17 per share. The market value of the stock on April 30 was $18 per share. Required: 1. For comparative purposes, prepare the Stockholders' Equity section of the balance sheet immediately before the stock divide mmediately after the stock dividend.
E11-22 (Algo) Analyzing Stock Dividends and Comparing to Stock Splits LO11-6 At the beginning of the year, the stockholders' equity section of the balance sheet of Solutions Corporation reflected the follow Common stock ($14 par value; 67,000 shares authorized, 40,000 shares outstanding) Additional paid-in capital Retained earnings $ 560,000 135,000 755,000 On February 1, the board of directors declared a 65 percent stock dividend to be issued April 30. The market value of the stock February 1 was $17 per share. The market value of the stock on April 30 was $18 per share. Required: 1. For comparative purposes, prepare the Stockholders' Equity section of the balance sheet immediately before the stock divide mmediately after the stock dividend.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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