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On October 31, the stockholders' equity section of Omar Company consists of common stock $600,000 and retained earnings $900,000. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60,000, $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. Complete the tabular summary of the effects of the alternative actions on the components of ...
Weegy: After stock dividend Stock Dividend is 5% on the 60,000, [ $10 par value shares outstanding = 3,000 shares of $10 each What is common stock = 60,000 + 3,000 = 63,000 shares of $10 each = $630,000 In excesss of par value Current market price is $14, which is $4 more than par value Excess paid in capital will be 3,000 x $4 = $12,000 total paid in capital = 60,000 + 3,000 = 63,000 shares of $10 each = $630,000 retained earnings Balance given $900,000 Less Used for 3,000 shares at $14 each = $42,000 Balance after stock dividend $858,000 total stockholders equity Equity shares 63,000 at $10 each $630,000 Paid in capital in excess pf par $ 12,000 Retained earnings $858,000 Total $1,500,000 outstanding share 60,000 + 3,000 = 63,000 shares ] (More)
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