Reference no: EM13953521
Stock Dividends and Stock Splits
At December 31, 2014, 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, 2014, 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, 2015:
Number of shares of common stock outstanding
Par value per share of the common stock
Total amount reported in Common Stock account
Retained earnings
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