On June 30,2018,Ginger,Inc On July 1,2018,the Company Declared and Distributed a 9% Stock

question 96

Multiple Choice

On June 30,2018,Ginger,Inc.showed the following data on the equity section of their balance sheet: $$\begin{array} { | l | r | } \hline \text { Stockholders' Equity } & \\\hline \text { Common Stock, } \$ 1 \text { par; 202,000 shares authorized, } & \\150,000 \text { shares issued and outstanding } & \$ 150,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & \$ 260,000 \\\hline \text { Retained Earnings } & \$ 946,000 \\\hline \text { Total Stockholder's Equity } & \$ 1,356,000 \\\hline\end{array}$$ On July 1,2018,the company declared and distributed a 9% stock dividend.The market value of the stock at that time was $20 per share.Following this transaction,what is the balance of Common Stock?

• A) $163,500
• B) $57,180
• C) $285,540
• D) $357,180

---

Definitions:

Environmental Degradation

The deterioration of the environment through depletion of resources, destruction of ecosystems, and the extinction of wildlife.

Sensitive

Capable of detecting or responding to slight changes, signals, or influences.

Mutualism

A type of symbiotic relationship where both participants benefit.

Benefit

A benefit is an advantage or profit gained from something.