On June 30,2015,Rangers Inc.showed the following data on the equity section of their balance sheet: On July 1,2015,the company 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,Rangers Inc.showed the following data on the equity section of their balance sheet:  On July 1,2015,the company 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?

Quizplus · Accepted Answer

11ea84d1_1148_b3ea_83dc_e74268ee1059_TB3006_00 Calculations: (140,000 × 5%)+ 140,000 = 147,000 shares