Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Exercise 15-13- The common stock of Alexander Hamilton Inc

Exercise 15-13- The common stock of Alexander Hamilton Inc

Accounting

Exercise 15-13- The common stock of Alexander Hamilton Inc. is currently selling at $120 per share. The director wish to reduce the share price and increase share volume sa news The per share par value is $10 book value is 70 per share.9 million shares are in and outstanding Prepare the necessary oumaltres suming the followinnam ar Creally indented when amount is and Do not in any fry is require select Entry for the account it and enter for the am) (a) The bodo rack wit The beard votes a 100% Mock didend. No. Recount Titles Expo De Credit (to record the decat To record the diston)

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

No. Account Titles and Explanation Debit Credit
(a) No entry required    
Note: In stock split, it only changes the number of shares outstanding and its par value
       
(b) Retained Earnings    90,000,000  
  Common Stock Dividend Distributable      90,000,000
  (To record the declaration)    
       
  Common Stock Dividend Distributable    90,000,000  
  Common Stock      90,000,000
  (To record the distribution)