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Exercise 11-15

On October 31, the stockholders equity section of Sunland Company consists of common stock $305,000 and retained earnings $891,000. Sunland is considering the following two courses of action: (1) declaring a 5% stock dividend on the 30,500, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders equity, outstanding shares, and par value per share.

		Before Action		After Stock Dividend		After Stock Split
Stockholders equity
Paid-in capital
Common stock		$Enter a dollar amount		$Enter a dollar amount		$Enter a dollar amount
In excess of par		Enter a dollar amount		Enter a dollar amount		Enter a dollar amount
Total paid-in capital		Enter a total of the two previous amounts		Enter a total of the two previous amounts		Enter a total of the two previous amounts
Retained earnings		Enter a dollar amount		Enter a dollar amount		Enter a dollar amount
Total stockholders equity		$Enter a total of the two previous amounts		$Enter a total of the two previous amounts		$Enter a total of the two previous amounts
Outstanding shares		Enter a number		Enter a number		Enter a number
Par value per share		$Enter a dollar amount		$Enter a dollar amount		$Enter a dollar amount

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Exercise 11-15 On October 31, the stockholders' equity section of Sunland Company consists of common stock $305,000 and retained earnings $891,000. Sunland is considering the following two courses of action: (1) declaring a 5% stock dividend on the 30,500, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. Before Action After Stock Dividend After Stock Split Stockholders' equity Paid-in capital Common stock In excess of par Total paid-in capital Retained earnings Total stockholders' equity Outstanding shares Par value per share Click if you would like to Show Work for this question: Open Show Work