Print Item Stock Dividends and Stock Splits 6, Green Company and Blue Company ha

Question

Print Item Stock Dividends and Stock Splits 6, Green Company and Blue Company have identical amounts of common stock and retained earnings as follows: Common Stock, $10 par, 50,000 shares authorized, 9,000 issued, 9,000 outstanding Retained Earnings, $500,000 At December 31, 2016, Green Company declares and issues a 100% stock dividend, while Blue Company declares and issues a 2-for-1 stock split. Required: Determine for each company the following amounts as of January 1, 2017: Accounts Green Company Blue Company Number of shares of common stock outstanding Par value per share of the common st Total amount reported in common stock account Retained earnings Hy Type here to search

Explanation / Answer

Green company Blue company No. of shares of common stock outstanding 18000 18000 Par value 10 5 Total amount reported in common stock account 180000 90000 Retained earnings 410000 500000

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