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(b) Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed. Common stock 2$ Paid-in capital in excess of par value $ I Retained earnings 24

(b) Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed. Common stock 2$ Paid-in capital in excess of par value $ I Retained earnings 24

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please solve problems (a) and (b) completely
(b) Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed. Common stock $ Paid-in capital in excess of par value 2$ Retained earnings $4
Transcribed Image Text:(b) Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed. Common stock $ Paid-in capital in excess of par value 2$ Retained earnings $4
On October 1, Pharoah Corporation's stockholders' equity is as follows. Common stock, $6 par value $ 453,000 Paid-in capital in excess of par-common stock 29,000 Retained earnings 157,000 Total stockholders' equity $ 639,000 On October 1, Pharoah declares and distributes a 10% stock dividend when the markat price of the stock is $ 15 per share. (a) Compute the par value per share (1) before the stock dividend and (2) after the stock dividend. Par value before the stock dividend 2$ Par value after the stock dividend $
Transcribed Image Text:On October 1, Pharoah Corporation's stockholders' equity is as follows. Common stock, $6 par value $ 453,000 Paid-in capital in excess of par-common stock 29,000 Retained earnings 157,000 Total stockholders' equity $ 639,000 On October 1, Pharoah declares and distributes a 10% stock dividend when the markat price of the stock is $ 15 per share. (a) Compute the par value per share (1) before the stock dividend and (2) after the stock dividend. Par value before the stock dividend 2$ Par value after the stock dividend $
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