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The stockholders' equity section of Rudolf Company showed the following: Common Stock--$30 par value, 60,000 shares issued and outstanding $1,800,000 Contributed Capital in excess of
The stockholders' equity section of Rudolf Company showed the following:
| Common Stock--$30 par value, 60,000 shares issued and outstanding |
$1,800,000 |
| Contributed Capital in excess of par value, common stock | 5,400,000 |
| Retained Earnings | 4,800,000 |
Rudolf declared a 10% stock dividend on a day when the market value of the stock was $90 per share.
The stock dividend will:
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