Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Nov 2017 My Price 4.00

Siewert Inc.

Stock split

Refer to the situation described in BE 18–13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?

BE 18–13

Stock dividend

On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Prepare the journal entry to record the stock dividend.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Nov 2017 11:11 PM My Price 4.00

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