On June 30, 2017, Roger, Inc. showed the following data on the equity section of

Question

On June 30, 2017, Roger, Inc. showed the following data on the equity section of their balance sheet: Stockholders' Equity Common Stock, $1 par; 206,000 shares authorized, 149,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholder's Equity $149.000 $279,000 953 $1.381.000 On July 1, 2017, the company declared and distributed a 8% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what is the balance of Common Stock? A) $160,920 B) $37.720 C) $335,720 D) $271.400 rted

Explanation / Answer

Balance in common stock = Common stock outstanding+Stock dividend at par value

                                           = 149000+(149000*8%*1)

Balance in common stock = 160920

so answer is a) $160,920

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