On June 13, the board of directors of Siewert Incorporated declared a 2-for-1 stock split on its 50 million, $2.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13. Prepare a journal entry that summarizes the declaration and distribution of 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 a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. Note: 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 Journal entry worksheet < 1 Record the declaration and distribution of the stock split effected in the form of a 100% stock dividend. Note: Enter debits before credits. Event 1 General Journal Debit Credit > SE Record entry Clear entry View general journal Show less A

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 4MC: Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys...
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On June 13, the board of directors of Siewert Incorporated declared a 2-for-1 stock split on its 50 million, $2.00 par, common shares, to be
distributed on July 1. The market price of Siewert common stock was $33 on June 13.
Prepare a journal entry that summarizes the declaration and distribution of 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 a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100%
stock dividend.
Note: 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
Journal entry worksheet
<
1
Record the declaration and distribution of the stock split effected in the form of
a 100% stock dividend.
Note: Enter debits before credits.
Event
1
General Journal
Debit
Credit
>
SE
Record entry
Clear entry
View general journal
Show less A
Transcribed Image Text:On June 13, the board of directors of Siewert Incorporated declared a 2-for-1 stock split on its 50 million, $2.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13. Prepare a journal entry that summarizes the declaration and distribution of 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 a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. Note: 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 Journal entry worksheet < 1 Record the declaration and distribution of the stock split effected in the form of a 100% stock dividend. Note: Enter debits before credits. Event 1 General Journal Debit Credit > SE Record entry Clear entry View general journal Show less A
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