On November 1, 2020, Skysong, Inc’s stockholders’ equity section is as follows: Common stock, $10 par value $750,000 Paid-in capital in excess of par value—common stock 180,000 Retained earnings 270,000 Total stockholders’ equity $1,200,000 On November 1, Skysong declares and distributes a 15% stock dividend when the fair value of the stock is $18 per share. Indicate the balances in the stockholders’ equity accounts after the stock dividend has been distributed. Common stock $enter a dollar amount
On November 1, 2020, Skysong, Inc’s stockholders’ equity section is as follows: Common stock, $10 par value $750,000 Paid-in capital in excess of par value—common stock 180,000 Retained earnings 270,000 Total stockholders’ equity $1,200,000 On November 1, Skysong declares and distributes a 15% stock dividend when the fair value of the stock is $18 per share. Indicate the balances in the stockholders’ equity accounts after the stock dividend has been distributed. Common stock $enter a dollar amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On November 1, 2020, Skysong, Inc’s
| Common stock, $10 par value | $750,000 | ||
| Paid-in capital in excess of par value—common stock | 180,000 | ||
| 270,000 | |||
| Total stockholders’ equity | $1,200,000 |
On November 1, Skysong declares and distributes a 15% stock dividend when the fair value of the stock is $18 per share.
Indicate the balances in the stockholders’ equity accounts after the stock dividend has been distributed.
|
Common stock |
$enter a dollar amount | ||
|---|---|---|---|
|
Paid-in capital in excess of par value—Common Stock |
enter a dollar amount | ||
|
Retained earnings |
enter a dollar amount | ||
|
Total stockholders’ equity |
$enter a total amount for this section |
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