Accounting For Stock Dividends And Stock Splits

Accounting for Stock Dividends and Stock SplitsThe Irvine Corporation reported the following data at year-end: Common stock, par value $1$100,000Additional paid-in-capital300,000Retained earnings1,400,000Treasury shares(600,000)Other comprehensive income200,000Total shareholders’ equity$1,400,000The following transactions occurred during the year in the following sequence: Declared and distributed a 10% stock dividend on the outstanding common shares at a time when the common shares were selling for $15 per share. Declared a 3-for-2 forward stock split on the outstanding common shares. Declared and issued a 20% stock dividend on the outstanding common shares at a time when the shares were selling for $30 per share. Declared a 2-for-1 forward stock split on the outstanding common shares. Calculate the par value per share and number of shares outstanding at year-end. Prepare the shareholders’ equity section of the balance sheet for the Irvine Corporation at year-end. Do not round until your final answers. Par value per share at year end. Round to two decimal places. $AnswerNumber of shares outstanding at year end. Round to nearest whole number. AnswerDo not use rounded answers in your calculations. Enter all answers in the nearest whole number. Common stock, par value$AnswerAdditional paid-in-capitalAnswerRetained earningsAnswerTreasury stockAnswerOther comprehensive incomeAnswerTotal shareholders’ equity$Answer

Originally posted 2018-07-07 18:53:17. Republished by Blog Post Promoter

Accounting For Stock Dividends And Stock Splits

Accounting for Stock Dividends and Stock SplitsThe Irvine Corporation reported the following data at year-end: Common stock, par value $1$100,000Additional paid-in-capital300,000Retained earnings1,400,000Treasury shares(600,000)Other comprehensive income200,000Total shareholders’ equity$1,400,000The following transactions occurred during the year in the following sequence: Declared and distributed a 10% stock dividend on the outstanding common shares at a time when the common shares were selling for $15 per share. Declared a 3-for-2 forward stock split on the outstanding common shares. Declared and issued a 20% stock dividend on the outstanding common shares at a time when the shares were selling for $30 per share. Declared a 2-for-1 forward stock split on the outstanding common shares. Calculate the par value per share and number of shares outstanding at year-end. Prepare the shareholders’ equity section of the balance sheet for the Irvine Corporation at year-end. Do not round until your final answers. Par value per share at year end. Round to two decimal places. $AnswerNumber of shares outstanding at year end. Round to nearest whole number. AnswerDo not use rounded answers in your calculations. Enter all answers in the nearest whole number. Common stock, par value$AnswerAdditional paid-in-capitalAnswerRetained earningsAnswerTreasury stockAnswerOther comprehensive incomeAnswerTotal shareholders’ equity$Answer