Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity...

 

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Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $600,000 150,000 $750,000 150.000 $900.000 On June 30, 2017, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2017, to stockholders of record on July 15, 2017. The fair value of Juno- Corporation's stock on June 30, 2017, was $15. On December 1, 2017, the board of directors declared a 2 for 1 stock split effective Decembe 15, 2017. Juno Corporation's stock was selling for $20 on December 1, 2017, before the sto split was declared. Par value of the stock was adjusted. Net income for 2017 was $190,000 a there were no cash dividends declared. EU2019-2020 Instructions Prepare the journal entries on the appropriate dates to record the stock dividend and the split. Pa Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $600,000 150,000 $750,000 150.000 $900.000 On June 30, 2017, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2017, to stockholders of record on July 15, 2017. The fair value of Juno- Corporation's stock on June 30, 2017, was $15. On December 1, 2017, the board of directors declared a 2 for 1 stock split effective Decembe 15, 2017. Juno Corporation's stock was selling for $20 on December 1, 2017, before the sto split was declared. Par value of the stock was adjusted. Net income for 2017 was $190,000 a there were no cash dividends declared. EU2019-2020 Instructions Prepare the journal entries on the appropriate dates to record the stock dividend and the split. Pa

Answer rating: 100% (QA)

Requirement1 Date Accounts Titles and Explanation Debit Credit 63017 ... View the full answer