Question
In: Accounting
1.) On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend...
1.) On June 13, the board of directors of Siewert Inc. declared
a 5% stock dividend on its 120 million, $5 par, common shares, to
be distributed on July 1. The market price of Siewert common stock
was $23 on June 13.
Prepare a journal entry that summarizes the declaration and
distribution of the stock dividend.
2.) On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 100 million, $1.00 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $24 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is to be effected in the form of a 100% stock dividend. What is the par per share after the split?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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Required:
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13) The Board of Directors declared dividends for the common
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14) The income tax rate is 20%.
Unadjusted
Trial
Balance
ACCOUNT
DR
CR
Cash
244000
Cash Equivalents
65000
Accounts Receivable
195000
Allowance for Doubtful Accounts
2500
Short-Term Investments
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Supplies Inventory
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Prepaid Insurance
0...
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payment of $50,000. Bordey has outstanding 16,000 shares of $1 par
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What is the per share dividend amount that will be payed to the
common stockholders?
Group of answer choices
$3.85
$3.69
$3.00
$0.69
$0.23
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Exhibit 11-2
On January 31, the board of directors declares a stock dividend
of 10% to be issued on February 15 to stockholders of record on
February 5th. The corporation currently has 500,000
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$10/share.
____ 23. Refer to Exhibit 11-2. How many additional
shares of stock are issued?
a.
500,000
b.
5,00,000
c.
50,000
d.
Zero
____ 24. Refer to Exhibit 11-2. What is the journal
entry on the...
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