On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet: On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new number of shares issued shown on the balance sheet?

Question

On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet:  On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new number of shares issued shown on the balance sheet?

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The Answer of On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet:  On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new number of shares issued shown on the balance sheet?

On June 30, 2015, Roger Company Showed the Following Data