Home / Questions / Indicate on the blanks below the effect
Indicate on the blanks below the effect (I = increase, D = decrease, NE = no effect) of a stock split on each of the items listed.
_____ 1. Assets
_____ 2. Balance of Common Stock account
_____ 3. Total contributed capital
_____ 4. Total retained earnings
_____ 5. Total stockholders' equity
_____ 6. Par value per share
_____ 7. Total number of shares outstanding
176.Elias Corporation has 40,000 shares of $10 par value common stock outstanding. Prepare entries in journal form without explanations for the following transactions. (Market value of the stock was $15.00 on December 16 and $15.50 on December 23.)
Dec. |
16 |
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Declared a 15 percent stock dividend. |
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23 |
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Distributed the stock dividend. |
|
30 |
|
Declared a 2-for-1 stock split. |
General Journal |
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