Additional Exercise 301 On November 1, 2015, Tech Corporation\'s stockholders\'

Question

Additional Exercise 301 On November 1, 2015, Tech Corporation's stockholders' equity section is as follows: Common stock, $10 par value Paid-in capital in excess of par Retained earnings Total stockholders' equity $600,000 205,000 240,000 1,045,000 On November 1, Tech declares and distributes a 15% stock dividend when the market value of the stock is $16 per share. Indicate the balances in the stockholders' equity accounts after the stock dividend has been distributed. Total Stockholders' Equitys

Explanation / Answer

Common Stock $690,000 Paid-in Capital in Excess of Par $259,000 Retained Earnings $96,000 Total Stockholders' Equity $1,045,000

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