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  3. on october 1, crane corporations stockholders equi

On October 1, Crane Corporations stockholders equity is as follows. Common stock,...

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Accounting

On October 1, Crane Corporations stockholders equity is as follows.

Common stock, $5 par value $386,500
Paid-in capital in excess of parcommon stock 21,000
Retained earnings 175,000
Total stockholders equity $582,500

On October 1, Crane declares and distributes a 10% stock dividend when the market price of the stock is $14 per share.

(a)

Correct answer iconYour answer is correct.

Compute the par value per share (1) before the stock dividend and (2) after the stock dividend.

Par value before the stock dividend $enter a dollar amount
Par value after the stock dividend $enter a dollar amount

eTextbook and Media

Attempts: 1 of 3 used

(b)

Indicate the balances in the three stockholders equity accounts after the stock dividend shares have been distributed.

Common stock $enter a dollar amount
Paid-in capital in excess of par value $enter a dollar amount
Retained earnings $enter a dollar amount

eTextbook and Media

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