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Category > Accounting Posted 25 Aug 2017 My Price 7.00

Whitacre Compan

Exercise 11-13 Stock Dividends and Stock Splits

Whitacre Company’s Stockholders’ Equity section of the balance sheet on December 31, 2013, was as follows:

 

Common stock, $10 par value, 60,000 shares issued  and outstanding

 

$   600,000

 

Additional paid-in capital

480,000

Retained earnings

1,240,000

Total  stockholders’ equity

$2,320,000

 

On May 1, 2014, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split.

Required

1.        How many shares of stock are outstanding at year-end?

2.        What is the par value per share of these shares?

3.        Develop the Stockholders’ Equity category of Whitacre’s balance sheet as of December 31, 2014.

 

 

LO8

 

 

 

 

 

 

 

 

 

LO8

Answers

Maurice Tutor
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Status NEW Posted 25 Aug 2017 12:08 AM My Price 7.00

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