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

question 24

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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