On October 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. Indicate the balances in the three stockholders’ equity accounts after the stock dividend shares have been distributed.
On October 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. Indicate the balances in the three stockholders’ equity accounts after the stock dividend shares have been distributed.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On October 1, Cullumber Corporation’s
| Common stock, $6 par value | $464,400 | |
| Paid-in capital in excess of par—common stock | 24,000 | |
| 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.
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 |
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