On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet:

Stockholders' equity
Common stock, $1 par	190,000 shares authorized,
	140,000 shares issued and outstanding	$140,000
Paid-in capital in excess of par—Common		260,000
Retained earnings		940,000
Total stockholder's equity		$1,340,000

On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new balance in Paid-In Capital in Excess of Par—Common?

A) $286,000

B) $284,000

C) $260,000

D) $344,000

Answer rating: 100% (QA)

Balance in Paidincapital in Excess of Par Common Stock Opening balance in ... View the full answer