Gilligan Corporation Was Established on February 15,Year 1

question 56

Multiple Choice

Gilligan Corporation was established on February 15,Year 1.Gilligan is authorized to issue 500,000 shares of $6.00 par value common stock.As of December 31,Year 3,Gilligan's stockholders' equity accounts report the following balances:
At the end of Year 3,Gilligan decides to issue a 5% stock dividend.At the time of issue,the market price of the stock was $22 per share.
-What is the number of shares outstanding after the stock dividend is issued?

• A)57,750
• B)55,000
• C)52,250
• D)525,000

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Definitions:

Chair Arrangement

The process or strategy involved in organizing chairs in a specific layout or pattern, often for events or gatherings.

Student Participation

The active engagement and contribution of students in the educational process, enhancing learning and academic success.

Control Group

In experimental research, a group of subjects that does not receive the experimental treatment, used as a benchmark to measure the effect of the treatment.

Fake Cigarette

A non-tobacco product designed to imitate a real cigarette, often used to aid quitting smoking.