On July 1, Jones Corporation had the following capital structure:
\table[[Common Stock, par
$1;8,000,000
authorized shares, 100,000 issued and,100,000],[outstanding,90,000],[Additional Paid-in Capital,170,000],[Retained Earnings,None]]
Required:
Complete the following table based on two independent cases involving stock transactions:
Note: Round "per share" answers to 2 decimal places.
Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was
$8
per share.
Case 2: The board of directors voted a
2-for-1
stock split. The stock price prior to the split was
$8
per share.
\table[[,,Case 1,Case 2],[Items,\table[[Before Stock],[Transactions]],\table[[After 100%],[Stock],[Dividend]],\table[[After Stock],[Split]]],[Number of Shares Outstanding,,,],[Par Per Share,
$
,1.00,],[Common Stock Account,,,],[Additional Paid-in Capital,90,000,,],[Retained Earnings,170,000,,],[Total Stockholders' Equity,,,]]