On July 1 Jones Corporation had the following capital structure Common
On July 1, Jones Corporation had the following capital structure:
Common Stock, par $ 1; 8,000,000 authorized shares, 100,000 issued and outstanding………………………………….. $ 100,000
Additional Paid-in Capital……………………… 90,000
Retained Earnings…………………………….. 170,000
Treasury Stock…………………………………… None
Required:
Complete the following table based on two independent cases involving stock transactions:
Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $ 8 per share.
Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $ 8 per share.
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