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

Question

1 Approved Answer

Boats and Bait has 77,000 shares outstanding that sell for a price of $73 per share. The stock has a par value of $2 per

image text in transcribed
Boats and Bait has 77,000 shares outstanding that sell for a price of $73 per share. The stock has a par value of $2 per share. The company's balance sheet shows capital surplus of $180,000 and retained earnings of $220,000. If the company declares a stock dividend of 15 percent, what is the new common stock value on the balance sheet? Multiple Choice $207,000 $460,000 $177100 $637,100 $384,100

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

The Art Of M And A A Merger Acquisition Buyout Guide

The Art Of M And A A Merger Acquisition Buyout Guide

Authors: Stanley Foster Reed, Alexandria Lajoux , H. Peter Nesvold

4th Edition

0071714952, 9780071714952

More Books

Students also viewed these Finance questions

Question

★★★★★
The formula for the duration of a perpetual bond which makes an equal payment each year in perpetuity is (1 + yield)/yield. If bonds yield 5 percent, which has the longer durationa perpetual bond or...

Answered: 1 week ago

Question

★★★★★
A. $283,000 positive B. $59,841 negative C. $53,120 positive D. $170,159 positive

Answered: 1 week ago

Question

★★★★★
discuss the consequence of information asymmetry in new venture and small business fi nancing

Answered: 1 week ago

Question

★★★★★
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2014, were as follows: a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. b....

Answered: 1 week ago

Question

★★★★★
Assume the following: Cash Flow From Assets Minus 515 nerest payments $5. Dividends paid = $7; and the form borrowed an additional $10. This firm stock in the amount of DA sod:S17 OBS: $37...

Answered: 1 week ago

Question

★★★★★
The Paper People, Inc. is a wholesaler of paper and office supplies and sells directly to other businesses. The company has been widely successful, and is looking to purchase a new warehouse for...

Answered: 1 week ago

Question

★★★★★
PartsPros has a pickup window for cash sales. There are few pickups, so the business only deposits customer cash and checks once per week. What should PartsPros select as Deposit to? Select an...

Answered: 1 week ago

Question

★★★★★
A call center in the USA outsources some of its operations to India. If the call center management wants a responsive service, it should: a. Include some idle time when scheduling the workload of...

Answered: 1 week ago

Question

★★★★★
Marc's mutual funds have had yearly changes of -11.60%, -6.12%, and 3.78%. Calculate the annual average change in Marc's investment. Give your answer as a percent accurate to at least two decimal...

Answered: 1 week ago

Question

★★★★★
Ms. Brooh Hah decided to invest in the salon business and named her salon "The Broohah Luk Salon". The follow salon's transactions for the month of November. Journalize The transactions and post the...

Answered: 1 week ago

Question

★★★★★
Question 1 Jack consumes only Bread (good x) and Cheese (good y). His utility function is given by U(x, y) = ln(x) + ln(y) (a) Find Jack's marginal rate of substitution (MRS) at bundle (x, y) (2...

Answered: 1 week ago

Previous Question Next Question