Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. common stock, $15 par, 675,000 shares authorized 6

Common stock, $15 par, 675,000 shares authorized 67,500 shares issued and outstanding $ 1,012,500 Paid-in...

50.1K

Verified Solution

Question

Accounting

Common stock, $15 par, 675,000 shares authorized 67,500 shares issued and outstanding $ 1,012,500 Paid-in capital in excess of par - Common 135,000 $ 1,147,500 Retained earnings 650,000 Total Stockholders' Equity $ 1,797,500 On December 31, Year 1, Gilligan decides to issue a 6% stock dividend. At the time of issue, the market price of the stock was $30 per share. What is the number of shares outstanding after the stock dividend is issued?

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