Refer to the situation described in BE 18-13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?
Answer to relevant QuestionsIdentify two important variables to be considered when making an investment decision.List three key provisions of the Sarbanes-Oxley Act of 2002. Order your list from most important to least important in terms of the likely long-term impact on the accounting profession and financial reporting.Briefly define the financial accounting elements: (1) Assets, (2) Liabilities, (3) Equity, (4) Investments by owners,(5) Distributions to owners, (6) Revenues, (7) Expenses, (8) Gains, (9) Losses, (10) Comprehensive income.Briefly describe the inputs that companies should use when determining fair value. Organize your answer according to preference levels, from highest to lowest priority.It's not easy sometimes to distinguish between a change in principle and a change in estimate. In these cases, how should the change be accounted for?
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