On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on...
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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? Complete this question by entering your answers in the tabs below. General Journal Par value 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 1 > Record the declaration and distribution of the stock split effected in the form of a 100% stock dividend. Note: Enter debits before credits. Event General Journal Debit Credit 1 General Par value Journal What is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.) Par value per share 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? Complete this question by entering your answers in the tabs below. General Journal Par value 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 1 > Record the declaration and distribution of the stock split effected in the form of a 100% stock dividend. Note: Enter debits before credits. Event General Journal Debit Credit 1 General Par value Journal What is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.) Par value per share
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Answer No journal is required to record the stock split Only a memorandum entry is ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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