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ACC - Common Stock 900,000 shares authorized

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Question;ORIGINAL INFORMATION: Common Stock 900,000 shares authorized, 100,000 shares issued, $10 par valueAnswer the following:1. What dollar amount must the common stock be listed on the balance sheet for ______________2. If we have a 4 for 1 stock split, how many shares will be issued and outstanding after the split _________3. If we have a 4 for 1 stock split, how many shares will be authorized after the split _________4. If we have a 4 for 1 stock split, how much will the par value be after the split _________5. If based on the original information, we have a 100% stock dividend, how many shares will be issued and outstanding after the dividend _________6. If based on the original information, we have a 100% stock dividend, how many shares will be authorized after the dividend _________7. If based on the original information, we have a 100% stock dividend, how much will the par value be after the dividend___________________8. Based on the original information, assuming that we did a 4 for 1 split, list all the journal entries needed.9. Based on the original information, assuming that we did a 100% stock dividend when the market price is $50 per share what entries are needed for the date of declaration, date of distribution and year end.10. Assuming that we did a 15% stock dividend when the market price is $50 per share what entries are needed for the date of declaration, date of distribution and year end.All of the questions are asking a new question based off of the original set of data given this is not a cumulative quiz, meaning the answer from #1 DOES NOT affect your answer for #2 etc. There are not multiple 4 for 1 splits/dividends happening it is just the original data.

 

Paper#38546 | Written in 18-Jul-2015

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