Common stock-$15 par value, 150,000 shares authorized, 65,000 shares issued and outstanding $ 975,000 Paid-in capital in excess of par value, common stock 428,000 Retained earnings 554,000 Total stockholders' equity 1,957,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 be the stock dividend. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no o changes to equity.)
Common stock-$15 par value, 150,000 shares authorized, 65,000 shares issued and outstanding $ 975,000 Paid-in capital in excess of par value, common stock 428,000 Retained earnings 554,000 Total stockholders' equity 1,957,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 be the stock dividend. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no o changes to equity.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 8MCQ
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