Samuel's Has 7,000 Shares of Stock Outstanding with a Par

question 90

Multiple Choice

Samuel's has 7,000 shares of stock outstanding with a par value of $1.00 per share and a market value of $12 per share. The balance sheet shows $7,000 in the common stock account,$58,000 in the capital in excess of par account and $32,500 in the retained earnings account. The firm just announced a 50% (large) stock dividend. What is the value of the common stock account after the dividend?

• A) $7,000
• B) $8,500
• C) $9,000
• D) $10,500
• E) $14,000

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At Least 2

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