Question: Brief Exercise 18-15 (Algo) Stock split [LO18-8] On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its

Brief Exercise 18-15 (Algo) Stock split [LO18-8] 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 What is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.) Par value per share < General Journal 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!

1. Identify the problems the new computer system created, and discuss what caused them. 2. How could AVC have avoided the problems? How can they prevent them in the future? Audio Visual Corporation...

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 100 million, $5 par, common shares, to be distributed on July...

Brief Exercise 18-15 (Algo) Stock split [LO18-8] On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 80 million, $2.00 par, common shares, to be distributed on...

Brief Exercise 18-15 (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, $1.00 par, common shares, to be distributed on...

Selected information for a recent year follows for Bank of Montreal and Scotiabank (in millions): Bank of Montreal Scotiabank Profit for the year $5,097 $6,853 Cash provided (used) by operating...

3 Find the derivative of f(x) = 7x - 10 Type your answer without fractional or negative exponents. Use sqrt(x) for. f'(x) =

Check my wo Brief Exercise 18-15 (Algo) Stock split [LO18-8] On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 100 million, $5.00 par, common shares, to be...

Brief Exercise 18-15 (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, $2.00 par, common shares, to be distributed on...

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 100 million, S1 par, common shares, to be distributed on July...

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 120 million, $1 par, common shares, to be distributed on July...

Find the first derivative of f'(x)= = f(x)=tan -1

A company issues $10,000, 6%, 10-year bonds that pay interest annually. If the market rate is 5%, the bonds would sell at an amount a. less than face value. b. equal to face value. c. greater than...

A firm that purchases electricity from the local utility for $300,000 per year is considering installing a steam generator at a cost of $260,000. The cost of operating this generator would be...

2 : 3 9 LimeSpring Select your answer ( 2 out of 6 ) For x > 0 , which answer best describes the curve of the function f ( x ) = x 1 2 ? Positive values of f ( x ) ; steep near 0 but flattening as x...

In July 2013, Cool Care, an SEC registrant and a hospital operator in the United States, entered into a merger agreement to acquire Healthy Hearts. Healthy Hearts is an unrelated third party that...

Review Exhibit 13.1 and Exhibit 13.2. Describe the disclosures related to stockholders equity provided by Ford Motor Company. Exhibit 13.1 Exhibit 13.2 FORD MOTOR COMPANY AND ARIES CONSOLIDATED...

Coffee Co. (the Company) is a global distributor of organic coffee beans and teas that is registered with the SEC in the United States. The Companys operations are primarily located in the United...

Bamburg Ltd's retained earnings at the date of acquisition was $ 135,000. No ordinary shares were issued/ redeemed by the subsidiary since acquisition. The group used the proportion of the net assets...

Note In the following questions a statement of assertion followed by a statement of reason is given. Choose the correct answer out of the following choices. (i) Assertion and reason both are correct...

What can I do to increase my projected year 1 7 performance to match or exceeded the investor expectations?

116 How is the book value of an asset calculated? What are the two key forms of taxable income?

112 What three components of cash flow may exist for a given project? How can expansion decisions be treated as replacement decisions? Explain.

118 Referring to the basic format for calculating initial investment, explain how a firm would determine the depreciable value of the new asset.