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Murphy's, Inc. has 30,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $10.00 per share. The balance sheet shows $69,000 in the capital in excess of par account, $30,000 in the common stock account, and $130,500 in the retained earnings account. The firm just announced a 12 percent (small) stock dividend. What will the balance in the capital in excess of par account be after the dividend? $105,000 $96,000 $97,800 $101,400 $98,100

Murphy's, Inc. has 30,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $10.00 per share. The balance sheet shows $69,000 in the capital in excess of par account, $30,000 in the common stock account, and $130,500 in the retained earnings account. The firm just announced a 12 percent (small) stock dividend. What will the balance in the capital in excess of par account be after the dividend? $105,000 $96,000 $97,800 $101,400 $98,100

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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Murphy's, Inc. has 30,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $10.00 per share. The balance sheet shows $69,000 in the capital in excess of par account, $30,000 in the common stock account, and $130,500 in the retained earnings account. The firm just announced a 12 percent (small) stock dividend. What will the balance in the capital in excess of par account be after the dividend?

$105,000

$96,000

$97,800

$101,400

$98,100

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