Question: 4 points eBook Print Brief Exercise 18-14 (Algo) Stock split [LO18-8] On June 13, the board of directors of Siewert Inc. declared a 2-for-1

4 points eBook Print Brief Exercise 18-14 (Algo) Stock split [LO18-8] OnJune 13, the board of directors of Siewert Inc. declared a 2-for-1

4 points eBook Print Brief Exercise 18-14 (Algo) Stock split [LO18-8] On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 40 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $18 on June 13. Prepare a journal entry that summarizes the declaration and distribution of 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? References Complete this question by entering your ans General Journal Par value Prepare a journal entry that summarizes the decla split if it is not to be effected in the form of a stocl required for a transaction/event, select "No journa account field.) View transaction list Journal entry worksheet < Record the declaration and distribution of the stock split. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View genera Par value

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!