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Chapter 11 Homework 3 Part 1 of 2 10 points eBook Hint References Mc Graw Hill Saved Help Required information [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 90,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 900,000 400,000 760,000 Total stockholders' equity $ 2,060,000 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock-$10 par value $ 900,000 Paid-in capital in excess of par value, common stock 400.000 < Prev S 3 4 of 10 Save & Exit Next > Submit Check my work
The stockholders' equity section of TVX Company on February 4 follows. Connon stock-$20 par value, 150,000 shares authorized, 60,000 shares issued and outstanding $ 1,200,000 Paid-in capital in excess of par value, common stock 424,000 551,000 Retained earnings Total stockholders' equity $ 2,175,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $41 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list View journal entry worksheet No Dute General Journal Debit Credit / 1 February 05 Retained earnings Common stock dividend distributable Paid-in capital in excess of par value, Common stock 1 2 February 28 Common stock dividend distributable. Common stock, $20 par value.