Stefanz1995
Jul 8, 2014, 01:35 PM
On November 1, 2014, Kalen Corporation’s stockholders’ equity section is as follows:
Common stock, $10 par value
$600,000
Paid-in capital in excess of par value—Common Stock
180,000
Retained earnings
200,000
Total stockholders’ equity
$980,000
On November 1, Kalen declares and distributes a 15% stock dividend when the market value of the stock is $16 per share.
Indicate the balances in the stockholders’ equity accounts after the stock dividend has been distributed.
Common stock
$http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Paid-in capital in excess of par value—Common Stock
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Retained earnings
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Total stockholders’ equity
$http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Common stock, $10 par value
$600,000
Paid-in capital in excess of par value—Common Stock
180,000
Retained earnings
200,000
Total stockholders’ equity
$980,000
On November 1, Kalen declares and distributes a 15% stock dividend when the market value of the stock is $16 per share.
Indicate the balances in the stockholders’ equity accounts after the stock dividend has been distributed.
Common stock
$http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Paid-in capital in excess of par value—Common Stock
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Retained earnings
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
Total stockholders’ equity
$http://edugen.wileyplus.com/edugen/art2/common/pixel.gif