On January 31, 1988, when the Montana Corporation's stock 7. was selling at $36 per share,...
On January 31, 1988, when the Montana Corporation's stock 7. was selling at $36 per share, its capital accounts were as follows:
Capital stock (par value $20; 100,000 shares issued) $2,000,000
Premium on Capital Stock 800,000
Retained Earnings 4,550,000
If the corporation declares a 100% stock dividend and the par value per share remains at $20, the value of the capital stock would
A. remain the same
B. increase to $5,600,000
C. increase to $5,000,000
D. decrease
Homework Answers
$4,000,000
If a 100% stock dividend were declared and distributed, the capital stock would be
$4,000,000. ($2,000,000 + $2,000,000)
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