Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares of $6 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: Common stock, $6 par, 500,000 shares authorized 61,000 shares issued and outstanding Paid-in capital in excess of par - Common Retained earnings Total Stockholders' Equity $ 366,000 488,000 $ 854,000 1,436,000 $ 2,290,000 On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $25 per share. What is the dollar value of the stock dividend issued by Gilligan Corporation?

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Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares of $6 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the
following balances:
Common stock, $6 par, 500,000 shares authorized
61,000 shares issued and outstanding
Paid-in capital in excess of par Common
Multiple Choice
Retained earnings
Total Stockholders' Equity
On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $25 per share.
What is the dollar value of the stock dividend issued by Gilligan Corporation?
$18,300
$48,800
$76,250
$366,000
488,000
$114,500
$ 854,000
1,436,000
$ 2,290,000
Google Chrome
Transcribed Image Text:Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares of $6 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: Common stock, $6 par, 500,000 shares authorized 61,000 shares issued and outstanding Paid-in capital in excess of par Common Multiple Choice Retained earnings Total Stockholders' Equity On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $25 per share. What is the dollar value of the stock dividend issued by Gilligan Corporation? $18,300 $48,800 $76,250 $366,000 488,000 $114,500 $ 854,000 1,436,000 $ 2,290,000 Google Chrome
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