On June 30,2018,Chris Brothers,Inc.showed the following data on the equity section of their balance sheet: On July 1,2018,the company declared and distributed a 8% stock dividend.The market value of the stock at that time was $17 per share.Following this transaction,what is the balance of Paid-In Capital in Excess of Par-Common?

Question

On June 30,2018,Chris Brothers,Inc.showed the following data on the equity section of their balance sheet:  On July 1,2018,the company declared and distributed a 8% stock dividend.The market value of the stock at that time was $17 per share.Following this transaction,what is the balance of Paid-In Capital in Excess of Par-Common?

Quizplus · Accepted Answer

$271,000 + (11,680 shares × $16 per share)= $457,880