# Question

At December 31, 2014, the records of NCIS Corporation provided the following selected and incomplete data:
Common stock (par \$10; no changes during the year).
Shares authorized, 200,000.
Shares issued, ? ; issue price \$17 per share; cash collected in full, \$2,125,000.
Shares held as treasury stock, 3,000 shares, cost \$20 per share.
Net income, \$240,340.
Dividends declared and paid, \$123,220.
Retained earnings balance, January 1, 2014, \$555,000.
The treasury stock was acquired after a stock split was issued.

Required:
1. Complete the following tabulation:
Shares authorized _____ .
Shares issued _____ .
Shares outstanding _____ .
2. The balance in the Capital in Excess of Par account appears to be \$ _____ .
3. Earnings per share is \$ _____ .
4. Dividend paid per share of common stock is \$ _____ .
5. Treasury stock should be reported on the balance sheet under the major caption _____ in the amount of \$ _____ .
6. Assume that the board of directors voted a 100 percent stock split (the number of shares will double). After the stock split, the par value per share will be \$ _____ , and the number of outstanding shares will be _____ .
7. Assuming the stock split mentioned above, give any journal entry that should be made. If none, explain why.
8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared and issued when the market price of the common stock was \$21. Give any journal entry that should be made.

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• CreatedJuly 01, 2014
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