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Kurt's Market has 65,000 shares of stock outstanding with a par value of $0.40 per share and a market value of $16 per share. The balance sheet shows $20,000 in the common stock account, $236,000 in the capital in excess of par (capital surplus) account, and $428,000 in the retained earnings account. The firm just announced a stock dividend of 10 percent. What will be the balance in the retained earnings account after this dividend? Group of answer choices $326,600 $324,000 $532,000 $529,400 $428,000 8:39 pm

Kurt's Market has 65,000 shares of stock outstanding with a par value of $0.40 per share and a market value of $16 per share. The balance sheet shows $20,000 in the common stock account, $236,000 in the capital in excess of par (capital surplus) account, and $428,000 in the retained earnings account. The firm just announced a stock dividend of 10 percent. What will be the balance in the retained earnings account after this dividend? Group of answer choices $326,600 $324,000 $532,000 $529,400 $428,000 8:39 pm

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Kurt's Market has 65,000 shares of stock outstanding with a par value of $0.40 per share and a market value of $16 per share. The balance sheet shows $20,000 in the common stock account, $236,000 in the capital in excess of par (capital surplus) account, and $428,000 in the retained earnings account. The firm just announced a stock dividend of 10 percent. What will be the balance in the retained earnings account after this dividend? Group of answer choices $326,600 $324,000 $532,000 $529,400 $428,000 8:39 pm
Transcribed Image Text:Kurt's Market has 65,000 shares of stock outstanding with a par value of $0.40 per share and a market value of $16 per share. The balance sheet shows $20,000 in the common stock account, $236,000 in the capital in excess of par (capital surplus) account, and $428,000 in the retained earnings account. The firm just announced a stock dividend of 10 percent. What will be the balance in the retained earnings account after this dividend? Group of answer choices $326,600 $324,000 $532,000 $529,400 $428,000 8:39 pm
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