1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Katen [24]
3 years ago
11

On june 13, the board of directors of siewert inc. declared a 2-for-1 stock split on its 80 million, $2 par, common shares, to b

e distributed on july 1. the market price of siewert common stock was $29 on june 13. prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. what is the par per share after the split
Business
2 answers:
Crank3 years ago
7 0

Answer:

prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend.

  • even though a typical journal entry is not needed to record a stock split (debit & credit), you must still prepare a memorandum entry that will also be included in the footnotes of the financial statements. This memo entry has to state that the stock split happened, and the total number of outstanding shares doubled from 80 million to 160 million, and that par value decreased from $2 to $1. There is no need to debit or credit any account because the account balances have not changed. The memo entry must be entered into the general journal and the general ledger account.

what is the par per share after the split?

  • $1

Vladimir [108]3 years ago
6 0

Answer:

No journal entry is required

The par per share after the split $1

Explanation:

If a stock split is not to be effected in the form of a stock dividend, no entry is recorded. The balance in the common stock account remains the same.

The par value before stock split was $2, board of directors declared a 2 for 1 split so the par value will be reduced by half.

We will calculate the par value after stock split by

= $2 / 2

= $1

You might be interested in
National saving a. is the total income in the economy that remains after paying for consumption. b. is the total income in the e
lys-0071 [83]

Answer:

The correct answer is option b.

Explanation:

National saving is the portion of total income which is left after consumption and government spending. It is the sum of total private saving and public saving.

It is that portion of national income or GDP which is not consumed by the public and spent by the government.

It can be expressed as:

National saving = Y - C - G

7 0
3 years ago
An increase in the money supply will: Group of answer choices increase interest rates and increase the equilibrium GDP. lower in
Komok [63]

Answer:

Option B, lower interest rates and increase the equilibrium GDP.

Explanation:

Option B is correct because the increase in the money supply will reduce the interest rate and increase the real GDP or output on the country because the rise in the money supply will results in more money in the hand of people. Therefore, more investment and production will be done in the economy. Thus, a rise in the production of output in the economy will result in the rise of GDP

6 0
3 years ago
How does the business cycle affect consumers? check all that apply.
kiruha [24]

Answer:

The business cycle is crucial for businesses of all kinds because it directly affects demand for their products. Boom: high levels of consumer spending, business confidence, profits and investment. Prices and costs also tend to rise faster. Unemployment tends to be low as growth in the economy creates new jobs.

5 0
3 years ago
Why does a bank sometimes hold excess reserves?
svetoff [14.1K]
The answer is d: to protect against high prices
6 0
4 years ago
Read 2 more answers
Reports how much the company is worth to the owners at the
SashulF [63]
I really want to say income statement
6 0
3 years ago
Other questions:
  • A respondent to a survey indicates that she drives a ford taurus. this is an example of qualitative data.
    9·1 answer
  • Shawn went to a restaurant where the beer was mediocre and the place was run-down. The restaurant was out of many of its more po
    6·1 answer
  • The following questions will test you on what you have just learned about sentence-level writing including dangling modifiers, i
    11·1 answer
  • The Regal Cycle Company manufactures three types of bicycles—a dirt bike, a mountain bike, and a racing bike. Data on sales an
    9·1 answer
  • 2. An employee has filed a discrimination lawsuit, because although fully qualified, he was not hired for a
    8·1 answer
  • Indicate whether each of the following actions represents foreign direct investment or foreign portfolio investment. Foreign Dir
    10·1 answer
  • Which of the following statements is correct? Multiple Choice A transaction that is properly recorded in the cash payments journ
    15·1 answer
  • Indicate the account being debited:
    10·1 answer
  • PLEASE HELP URGENT Use what you know from your reading and explain how the Scopes Trial was a reflection of the 1920s cultural c
    14·1 answer
  • you are the coordinator of a nonprofit that distributes donated items to three local homeless shelters. what is the most efficie
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!