Josh's,Inc

question 71

Multiple Choice

Josh's,Inc.has 7,000 shares of stock outstanding with a par value of $1.00 per share and a market value of $32 a share.The balance sheet shows $82,000 in the capital in excess of par account,$7,000 in the common stock account,and $64,800 in the retained earnings account.The firm just announced a 10 percent stock dividend.What is the value of the capital in excess of par account after the dividend?

• A)$76,000
• B)$82,000
• C)$97,700
• D)$103,700
• E)$104,400

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