Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 300,000 shares of $12 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $20 per share.What is the number of shares outstanding after the stock dividend is issued?

Question

Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 300,000 shares of $12 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances:  On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $20 per share.What is the number of shares outstanding after the stock dividend is issued?

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The Answer of Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 300,000 shares of $12 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances:  On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $20 per share.What is the number of shares outstanding after the stock dividend is issued?

Gilligan Corporation Was Established on February 15, Year 1