Question
At the end of 2021, Your Company decided to issue a 30% stock dividend. At the time of issue, the market price of the stock
At the end of 2021, Your Company decided to issue a 30% stock dividend. At the time of issue, the market price of the stock was $15 per share. Prior to the dividend, the stockholders' equity accounts report the following balances:
Common stock, $2 par, 500,000 shares authorized, 45,000 shares issued and 40,000 shares outstanding
$90,000
Paid in capital in excess of par
546,000
Retained earnings
775,000
What was the dollar amount of the stock dividend?
At the end of 2021, Your Company decided to issue a 30% stock dividend. At the time of issue, the market price of the stock was $15 per share. Prior to the dividend, the stockholders' equity accounts report the following balances:
Common stock, $2 par, 500,000 shares authorized, 45,000 shares issued and 40,000 shares outstanding | $90,000 |
Paid in capital in excess of par | 546,000 |
Retained earnings | 775,000 |
What was the dollar amount of the stock dividend?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
