90.2K
Verified Solution
Link Copied!
On October 1, Crane Corporations stockholders equity is as follows.
Common stock, $5 par value | | $386,500 |
Paid-in capital in excess of parcommon stock | | 21,000 |
Retained earnings | | 175,000 |
Total stockholders equity | | $582,500 |
On October 1, Crane declares and distributes a 10% stock dividend when the market price of the stock is $14 per share.
(a)
Correct answer iconYour answer is correct.
Compute the par value per share (1) before the stock dividend and (2) after the stock dividend.
Par value before the stock dividend | | $enter a dollar amount |
Par value after the stock dividend | | $enter a dollar amount |
eTextbook and Media
Attempts: 1 of 3 used
(b)
Indicate the balances in the three stockholders equity accounts after the stock dividend shares have been distributed.
Common stock | | $enter a dollar amount |
Paid-in capital in excess of par value | | $enter a dollar amount |
Retained earnings | | $enter a dollar amount |
eTextbook and Media
Answer & Explanation
Solved by verified expert