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] On](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665a05f61a824_797665a05f5a7698.jpg)
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
Get step-by-step solutions from verified subject matter experts
