Question
In: Accounting
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April...
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock’s per share market value on April 2 is $25 (prior to the dividend).
Common stock—$5 par value, 455,000 shares
authorized, 240,000 shares issued and outstanding$1,200,000
Paid-in capital in excess of par value, common stock 570,000
Retained earnings 873,000
Total stockholders' equity$2,643,000
Prepare the stockholders’ equity section immediately after the
stock dividend.
Solutions
Expert Solution
| Stockholder's Equity | |
| Common Stock [ (240000 + 24000) x $ 5 par] | $1,320,000 |
| Paid in Capital in excess of Par Common Stock [570000 + 480000] | $1,050,000 |
| Total Paid in Capital | $2,370,000 |
| Retained earnings [$873000 - 600000] | $273,000 |
| Total Stockholder's Equity | $2,643,000 |
--Workings
| A | Shares outstanding prior to stock dividend | 240,000 |
| B | Stock dividend rate | 10% |
| C = A x B | Shares issued as Stock Dividend | 24,000 |
| D | Market price per share | $25 |
| E = C x D | Total Stock Dividend | $600,000 |
| F = C x $ 5 par | Common Stock increased by | $120,000 |
| G = E - F | Paid in Capital in excess of Par | $480,000 |
ekkarill92 answered 1 year agoRelated Solutions
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April...
The stockholders’ equity section of Jun Company’s balance sheet
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Common stock—$5 par value,
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$
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Paid-in capital in excess of par
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Retained Earnings
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Total Stockholders' Equity
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255,000
Retained earnings
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shares authorized, 10,000 shares issued 100,000 Additional paid-in
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On October 31, the stockholders’ equity section of Pharoah Company’s balance sheet consists of common stock...
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600,000
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960,000
From treasury stock
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1,020,000
Retained earnings
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276,000
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2,040,000
The following transactions affecting stockholders’ equity
occurred during the year:
Jan.
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Stockholders’ Equity: Transactions and
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The stockholders’ equity section of Night Corporation’s balance
sheet at January 1 follows:
Common stock, $5 par value, 300,000 shares authorized, 60,000
shares
$300,000
issued, 6,000 shares in treasury
Additional paid-in capital
In excess of par value
$480,000
From treasury stock
30,000
510,000
Retained earnings
348,000
1,158,000
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138,000
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Stockholders' Equity: Transactions and
Statement
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sheet at January 1 follows:
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shares
480,000
issued, 6,000 shares in treasury
Additional paid-in capital
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transactions for the year follow:
Stockholders’ Equity
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value,
200,000 shares
authorized)
Issued and Outstanding, 7,300
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Paid-in Capital in Excess of Par
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130,000 shares
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Issued and Outstanding, 1,300
Shares
65,000
Paid-in Capital in Excess of
Stated Value
2,600
67,600
Total...
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