Murphy's Has 10,000 Shares Outstanding with a Par Value of £1.00

question 70

Multiple Choice

Murphy's has 10,000 shares outstanding with a par value of £1.00 per share.The market value is £8 per share.The statement of financial position shows £32,500 in the additional paid in capital
Account, £10,000 in the ordinary equity account and £42,700 in the retained earnings account.The
firm just announced a 10% (small) stock dividend.What will the market price per share be after the
Dividend?

• A)£7.20
• B)£7.27
• C)£7.33
• D)£8.00
• E)£8.80

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