$4.99 A+: On January 1, 2008, Snider Corporation had the following stockholders'Found in Business: General-Business
Chapter 1, # 0
On January 1, 2008, Snider Corporation had the following stockholders' equity accounts.
|Common Stock ($10 par value, 90,000 shares issued and outstanding)||$900,000|
|Paid-in Capital in Excess of Par Value||200,000|
During the year, the following transactions occurred.
|Jan. 15||Declared a $1 cash dividend per share to stockholders of record on January 31,payableFebruary 15.|
|Feb. 15||Paid the dividend declared in January.|
|Apr. 15||Declared a 10%stock dividendto stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share.|
|May 15||Issued the shares for the stock dividend.|
|July 1||Announced a 2-for-1 stock split. The market price per share prior to the announcement was $17. (The new par value is $5.)|
|Dec. 1||Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 10, 2009.|
|Dec. 31||Determined that net income for the year was $250,000.|
A+: On January 1, 2008, Snider Corporation had the following stockholders'
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