FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17 Boats and Bait has 66,000 shares outstanding that sell for a price of $62 per share. The stock has a par value of $3

17

image text in transcribed

Boats and Bait has 66,000 shares outstanding that sell for a price of $62 per share. The stock has a par value of $3 per share. The company's balance sheet shows capital surplus of $125,000 and retained earnings of $165,000. If the company declares a stock dividend of 12.5 percent, what is the new common stock value on the balance sheet? $140,625$363,375$222,750$549,000$326,250

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Focus On Personal Finance

Focus On Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart

7th Edition

1265521972, 978-1265521974

More Books

Students also viewed these Finance questions

Question

★★★★★
Let f(x) = 30x2(1-x)2 for 0 x 1 and f(x) = 0 for all other values of x. a. Verify that f is a probability density function. b. Find P(X 1/3)

Answered: 1 week ago

Question

★★★★★
Omar invested in a savings bond for6 years and was paid simple interest at an annual rate of5%.The total interest that he earned was$180.How much did he invest?

Answered: 1 week ago

Question

★★★★★
describe and discuss strategies related to retrenchment, turnaround, divestment, management buy-outs and buy-ins, and the implementation issues involved (Section 13.4)

Answered: 1 week ago

Question

★★★★★
You are buying a house and the mortgage company offers to let you pay a point (1% of the total amount of the loan) to reduce your APR from 6.5% to 6.25% on your $400,000, 30-year mortgage with...

Answered: 1 week ago

Question

★★★★★
17 Boats and Bait has 66,000 shares outstanding that sell for a price of $62 per share. The stock has a par value of $3 per share. The company's balance sheet shows capital surplus of $125,000 and...

Answered: 1 week ago

Question

★★★★★
Assume you have been given the following data model created for the Beauty Gallery, a small art gallery that has been in business for 30 years. Review the conceptual data model carefully and follow...

Answered: 1 week ago

Question

★★★★★
In the country Gamma it takes 6 hours to produce one automobile and 1 hour to produce a bale of cotton. In the country Delta it takes 10 hours to produce one automobile and 2.5 hours to produce a...

Answered: 1 week ago

Question

★★★★★
I. Suppose that there are only 10 individuals in the economy each with the following utility function over present and future consumption : U (c1, c2) = c1 + 2 / 3 c2, where c1 is consumption today,...

Answered: 1 week ago

Question

★★★★★
QUESTION 10/12 Company A's total royalty expenses for a specific product vary based on the total revenue (dollars in thousand), shown as below: Which of the following statements is correct? 1 point...

Answered: 1 week ago

Question

★★★★★
The relativistic Doppler shift causes the light from a distant galaxy to be blue shifted by 5%. What is the speed of the galaxy relative to the earth?

Answered: 1 week ago

Question

★★★★★
#3 #2 HOMEWORK #1 #1 Figure 1 Price Supply and Demand Suppose you have a demand curve for McDonalds Big Macs. Show the impact graphically (draw the graph) to illustrate the impact of each of the...

Answered: 1 week ago

Previous Question Next Question