Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. allied industries, inc. has 250,000 shares of $7-p

Allied Industries, Inc. has 250,000 shares of $7-par common stock outstanding. They have declared a...

80.2K

Verified Solution

Question

Accounting

Allied Industries, Inc. has 250,000 shares of $7-par common stock outstanding. They have declared a 7% stock dividend. The current market price of the common stock is $11/share. What is the amount that will be credited to Paid-in Capital in Excess of Par Common Stock on the date of declaration?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

A company considers to buy a factory of Zalando. The purchase price is €1 million and...

Finance
1.2K views

(Calculating free cash flows​) You are considering new elliptical trainers and you feel you can sell...

Psychology
1.2K views

Identify and briefly discuss four common misuses of the term extinction.

Advance Math
1.2K views

Consider an SEIR model with both horizontal and vertical transmission. What assumption can you make about...

Geometry
1.2K views

4 Convert to Standard Form Identify the y intercept then sketch a graph of the...

Basic Math
1.2K views

The radius of a disc is measured to be 14 in. The measurement of theradius...

Algebra
1.2K views

Given the functions f and g below find f g 1 Provide your answer below...

Accounting
1.2K views

Franco and Elisa share income equally. During the current year the partnership net income was...

Accounting
1.2K views

A well-designed system of internal controls will eliminate employee theft and fraud in a company....

Accounting
1.2K views

The stockholders equity accounts of Bramble Corp. on January 1, 2017, were as follows. ...

Accounting
1.2K views

Exercise 5-16 A comparative balance sheet for Cullumber Corporation is presented below December 31 2017...

Finance
1.2K views

A stock trades for $46 per share. A call option on that stock has a...