REN 20 On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as...

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REN 20 On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. After the distribution is made, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Common stock-$10 par value, 50,000 shares issued and outstanding .... Paid-in capital in excess of par value, common stock ... Retained earnings...... Total stockholders' equity Zidat $ 500,000 200,000 660,000 ***$1,360,000 13 Refer to the information in Exercise 13-8. Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. After the split, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Hint: A 3-for-1 split means that each old share is replaced with 3 new shares. The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding.... $ 600,000 Paid-in capital in excess of par value, common stock Retained earnings... Total stockholders' equity 425,000 550,000 $1,575,000 l On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) REN 20 On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. After the distribution is made, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Common stock-$10 par value, 50,000 shares issued and outstanding .... Paid-in capital in excess of par value, common stock ... Retained earnings...... Total stockholders' equity Zidat $ 500,000 200,000 660,000 ***$1,360,000 13 Refer to the information in Exercise 13-8. Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. After the split, (1) prepare the updated stockholders' equity section and (2) compute the number of shares outstanding. Hint: A 3-for-1 split means that each old share is replaced with 3 new shares. The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding.... $ 600,000 Paid-in capital in excess of par value, common stock Retained earnings... Total stockholders' equity 425,000 550,000 $1,575,000 l On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)

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Part 1 Entries to record the dividend declaration and distribution 1 Declaration of Stock Dividend D... View the full answer