PART I - On July 31, Air Corporation\'s stockholders\' equity was: Common stock,

Question

PART I - On July 31, Air Corporation's stockholders' equity was: Common stock, $10, par value, 200,000 shares authorized, 100,000 shares issued and outstanding $1,000,000 Retained earnings 350,000 Total stockholder's equity $1,350,000 Also note that on July 31 the market value of Air Corporation's stock was $13 per share. The directors considered declaring a 20% or 30% stock dividend and wanted to know what effect each stock dividend would have on stockholders' equity. Calculate the balances that should be in the following accounts after a stock dividend distribution. Balances After 20% Stock Dividend Balances After 30% Stock Dividend Common Stock ___________________ ____________________ Contributed Capital in Excess of Par Value, Common Stock

Explanation / Answer

52.6, 19.1

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