The following account balances appear on the balance sheet of Osgood Industries:
Common Stock (300,000 shares authorized,$100 par): $10,000,000
Paid-In Capital in Excess of Par-Common Stock: $2,000,000
Retained Earnings: $45,000,000

The board of directors declared a 2% stock dividend when the market price of the stock was $135 a share.

Required:

Question

The following account balances appear on the balance sheet of Osgood Industries:
Common Stock (300,000 shares authorized,$100 par): $10,000,000
Paid-In Capital in Excess of Par-Common Stock: $2,000,000
Retained Earnings: $45,000,000
​
The board of directors declared a 2% stock dividend when the market price of the stock was $135 a share.
​
Required:

Quizplus · Accepted Answer

The Answer of The following account balances appear on the balance sheet of Osgood Industries:
Common Stock (300,000 shares authorized,$100 par): $10,000,000
Paid-In Capital in Excess of Par-Common Stock: $2,000,000
Retained Earnings: $45,000,000
​
The board of directors declared a 2% stock dividend when the market price of the stock was $135 a share.
​
Required:

The Following Account Balances Appear on the Balance Sheet of Osgood