7 QS 11-8 (Algo) Reporting a small stock dividend LO P2 10 points Return to question...

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7 QS 11-8 (Algo) Reporting a small stock dividend LO P2 10 points Return to question 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 $15 (prior to the dividend). Common stock-$5 par value, 485,000 shares authorized, 255,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 1,275,000 600,000 888,000 $ 2,763,000 Prepare the stockholders' equity section immediately after the stock dividend is distributed. Answer is complete but not entirely correct. JUN COMPANY Stockholders' Equity April 2 (after stock dividend) Common stock Paid-in capital in excess of par value, common stock Total paid-in capital Retained earnings Total stockholders' equity $1,402,500 675,000 X 2,077,500 888,000 $ 2,965,500 7 QS 11-8 (Algo) Reporting a small stock dividend LO P2 10 points Return to question 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 $15 (prior to the dividend). Common stock-$5 par value, 485,000 shares authorized, 255,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 1,275,000 600,000 888,000 $ 2,763,000 Prepare the stockholders' equity section immediately after the stock dividend is distributed. Answer is complete but not entirely correct. JUN COMPANY Stockholders' Equity April 2 (after stock dividend) Common stock Paid-in capital in excess of par value, common stock Total paid-in capital Retained earnings Total stockholders' equity $1,402,500 675,000 X 2,077,500 888,000 $ 2,965,500