Inter Company declared and issued a 5 stock dividend on
Inter Company declared and issued a 5% stock dividend on May 1, 2011. Before this dividend was declared and issued, there were 120,000 shares of $0.50 par common stock outstanding. After the stock dividend, how many shares are outstanding? What is the par value of each share?

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help