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, 120,000 shares authorized, 88,000 shares issued and outstanding $ 880,000 Paid-in capital in excess of par value, common stock 390,000 Retained earnings 755,000 Total stockholders’ equity $ 2,025,000 Required:(1) Prepare the updated stockholders' equity section after the distribution is made.(2) Compute the number of shares outstanding after the distribution is made.

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...

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, 120,000 shares authorized, 88,000 shares issued and outstanding	$	880,000
Paid-in capital in excess of par value, common stock		390,000
Retained earnings		755,000
Total stockholders’ equity	$	2,025,000

Required:
(1) Prepare the updated stockholders' equity section after the distribution is made.
(2) Compute the number of shares outstanding after the distribution is made.

Jun 01, 2022

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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...

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