Bruno's Has 13,000 Shares of Stock Outstanding with a Par

question 17

Multiple Choice

Bruno's has 13,000 shares of stock outstanding with a par value of $1 per share and a market value of $38.29 per share.The balance sheet shows $13,000 in the common stock account,$78,300 in the capital in excess of par value account,and $82,500 in retained earnings.The firm just announced a large stock dividend of 40 percent.What will be the balance in the capital in excess of par value account after the dividend?

• A)$272,208
• B)$277,408
• C)$145,300
• D)$78,300
• E)$91,300

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Definitions:

Social Context

Refers to the immediate physical, social, and cultural settings in which people live or in which something happens or develops.

Recreational Use

The use of substances or participation in activities for enjoyment, relaxation, or leisure, rather than for medical, professional, or survival purposes.

Labeling Theory

A sociological perspective that suggests individuals become deviant due to labels assigned to them by society.

Labeled As Deviant

The process of being marked by society as violating norms and engaging in behavior considered unacceptable.