On june 1 acme corporation declared and issued a 15

Reference no: EM13611051

On June 1, ACME Corporation, declared and issued a 15% stockdividend to each of its 400,000 outstanding shares of $2 par valuecommon stock. On November 1, ACME declared a 4-for-1 stock splitand changed its par value accordingly. The market value of ACME'sstock was $10 per share on June 1 and $14 per share on November 1.Immediately before the stock dividend, ACME's stockholders' equityappeared as follows:

Common stock (400,000 $2 par shares issued)	$ 800,000
Paid-in capital in excess of par	1,200,000
Contributed capital	2,000,000
Retained earnings	1,000,000
Total stockholders' equity	$3,000,000

Prepare the stockholders' equity section after the stockdividend and stock split.

Reference no: EM13611051

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