On July 1, Jones Corporation had the following capital structure:
Common Stock, par $ 1; 8,000,000 authorized shares, 100,000 issued and outstanding... $ 100,000
Additional Paid-in Capital… 90,000
Retained Earnings... 170,000
Treasury Stock… None
Required:
Complete the following table based on two independent cases involving stock transactions:
Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $ 8 per share
Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $ 8 per share.