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:
Â
Common stock, $10 par value, 60,000 shares issued and outstanding
Â
$Â Â 600,000
Â
|
Additional paid-in capital
|
480,000
|
|
Retained earnings
|
1,240,000
|
|
Total stockholders’ equity
|
$2,320,000
|
Â
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.
Â
Â
Â
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)