On July 1, 2003, Sanford Corporations balance sheet reported the following account balances in the stockholders equity
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On July 1, 2003, Sanford Corporation’s balance sheet reported the following account balances in the stockholders’ equity section:
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Common stock, $5 par. Paid-in capital in excess of par, common stock Retained earnings Total stockholders' equity. $150,000 20,000 180,000 $350,000 On August 31, 2003, Sanford's board of directors declared and issued a 10% stock dividend. The market value on August 31 is $12 per share. 1. Compare the book value per share before and after the issuance of the stock dividend. 2. Compute the new balance for all stockholders' equity accounts after the stock dividend.
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Related Book For
Financial Accounting
ISBN: 9780324066708
8th Edition
Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.
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