Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ogcush inc declares and distributes a 3-for-1 stoc

OGCush Inc declares and distributes a 3-for-1 stock split on its 70 million, $1 par,...

50.1K

Verified Solution

Question

Accounting

OGCush Inc declares and distributes a 3-for-1 stock split on its 70 million, $1 par, common shares. The company effects the split in the form of a 200% stock dividend. The market value of the stock is $5 on the date of declaration. The company will receive a:

Debit to paid in capital excess of par of $70 million

Debit to paid in capital excess of par of $140 million

Debit to paid in capital excess of par of $210 million

Debit to paid in capital excess of par of $280 million

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

Advance Math
1.2K views

Let T denotes the counterclockwise rotation through 60∘, followed by reflection in the line y=x. (i) Show...

Biology
1.2K views

Question of medical biology and genetics: What is PCR (polymerase chain reaction)? How does PCR work?...

Chemistry
1.2K views

Arsenious acid is a weak acid: HAsO2<-> H++AsO2- pKa=9.22 If 10-3 moles of the herbicide NaAsO2 are added to...

Physics
1.2K views

A charge of -4 µ C is located at (x, y) = (0, 0) and...

Biology
1.2K views

In fungi karyogamy does not immediately follow plasmogamy Because of this what consequence would result...

Physics
1.2K views

in solids 22 Longitudinal waves of wavelength 2 propagate in a gaseous medium in the...

Geometry
1.2K views

Directions Identify the key characteristics of each graph then write the equation that best represents...

Statistics
1.2K views

Question 4 The diameters of screws in a batch are normally distributed with mean equal...

Algebra
1.2K views

A ranger in tower A spots a fire at a direction of 355 A ranger...

Accounting
1.2K views

20. answer ASAP Tellers in the Southeast Region and determined...

Accounting
1.2K views

Question for QURESHI LIMITED: ...

Accounting
1.2K views

What is the revenue from sales to be reported on the sales budget for the...