On July 31, 2020, when a companys stock was selling at $67 per share, its equity accounts
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Question:
On July 31, 2020, when a company’s stock was selling at $67 per share, its equity accounts were as follows:
Capital stock (par value $40; 50,000 shares issued) $2,000,000
Paid-in Capital in Excess of Par—Common Stock 600,000
If a(an) 14% stock dividend was declared and distributed, Paid-in Capital in Excess of Par—Common Stock would be ____________________.
(Note the question asks what PIC in Excess of Par - c/s is after the stock dividend, not the change in PIC in Excess of Par - c/s.)
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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