ctober 1, Cullumber Corporation’s stockholders’ equity is as follows. Common stock, $6 par value $464,400 Paid-in capital in excess of par—common stock 24,000 Retained earnings 176,000 Total stockholders’ equity $664,400 On October 1, Cullumber declares and distributes a 10% stock dividend when the market price of the stock is $14 per share. (a) Compute the par value per share (1) before the stock dividend and (2) after the stock dividend. Par value before the stock dividend $ Par value after the stock dividend $
ctober 1, Cullumber Corporation’s stockholders’ equity is as follows. Common stock, $6 par value $464,400 Paid-in capital in excess of par—common stock 24,000 Retained earnings 176,000 Total stockholders’ equity $664,400 On October 1, Cullumber declares and distributes a 10% stock dividend when the market price of the stock is $14 per share. (a) Compute the par value per share (1) before the stock dividend and (2) after the stock dividend. Par value before the stock dividend $ Par value after the stock dividend $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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