(Solution) - Stock Dividends and Stock Splits At December 31 2010 Green -(2025 Original AI-Free Solution)

Paper Details

Stock Dividends and Stock Splits At December 31, 2010, 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, 2011, 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, 2011:
_____ Number of shares of common stock outstanding
_____ Par value per share of the common stock
_____ Total amount reported in Common Stock account
_____ Retained earnings