Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Val's Marina's balance sheet shows $25,000,000 in the common stock account at $1 par, $375,000,000 in the capital in excess of par account, and $56,000,000

image text in transcribed

Val's Marina's balance sheet shows $25,000,000 in the common stock account at $1 par, $375,000,000 in the capital in excess of par account, and $56,000,000 in accumulated retained earnings account. The firm just announced a 15 percent stock dividend. What is the value of the capital in excess of par account after the dividend? (Please, do not round intermediate calculations. Provide your final answer rounded to 2 decimal places with no dollar symbol ($))

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

Trading Strategies For Capital Markets

Authors: Joseph Benning

1st Edition

0071726233

More Books

Students also viewed these Finance questions

Question

What is the purpose of a limit check?

Answered: 1 week ago