Exercise 11-13 Stock Dividends and Stock Splits
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.
Answers
Status NEW
Posted 08 Oct 2017 08:10 PM
My Price 6.00
Exe-----------rci-----------se -----------11------------13 -----------Sto-----------ck -----------Div-----------ide-----------nds----------- an-----------d S-----------toc-----------k S-----------pli-----------ts
-----------
-----------
Attachments
file 1507495637-Exercise 11-13 Stock Dividends and Stock Splits.xlsx preview (180 words )
De-----------scr-----------ipt-----------ion-----------Exe-----------rci-----------se -----------11------------13 -----------Sto-----------ck -----------Div-----------ide-----------nds----------- an-----------d S-----------toc-----------k S-----------pli-----------tsW-----------hit-----------acr-----------e C-----------omp-----------any-----------’-----------s S-----------toc-----------kho-----------lde-----------rsâ-----------€™ -----------Equ-----------ity----------- se-----------cti-----------on -----------of -----------the----------- ba-----------lan-----------ce -----------she-----------et -----------on -----------Dec-----------emb-----------er -----------31,----------- 20-----------13,----------- wa-----------s a-----------s f-----------oll-----------ows-----------:Co-----------mmo-----------n s-----------toc-----------k, -----------$10----------- pa-----------r v-----------alu-----------e, -----------60,-----------000----------- sh-----------are-----------s i-----------ssu-----------edÂ----------- a-----------nd -----------out-----------sta-----------ndi-----------ngA-----------ddi-----------tio-----------nal----------- pa-----------id------------in -----------cap-----------ita-----------lRe-----------tai-----------ned----------- ea-----------rni-----------ngs-----------Tot-----------alÂ----------- s-----------toc-----------kho-----------lde-----------rsâ-----------€™ -----------equ-----------ity-----------Req-----------uir-----------ed1-----------. ----------- Â----------- ----------- Â----------- ----------- Ho-----------w m-----------any----------- sh-----------are-----------s o-----------f s-----------toc-----------k a-----------re -----------out-----------sta-----------ndi-----------ng -----------at -----------yea-----------r-e-----------nd?-----------2.Â----------- ----------- Â----------- ----------- Â----------- W-----------hat----------- is----------- th-----------e p-----------ar -----------val-----------ue -----------per-----------
Not Rated(0)