On june 30 2010 when ermler co.s stock was selling at 65, Ask an Expert

Accounting

On June 30, 2010, when Ermler Co.'s stock was selling at $65 per share, its capital accounts were as follows:

Capital stock (par value $50; 60,000 shares issued) $3,000,000
Premium on capital stock 600,000
Retained earnings 4,200,000

If a 100% stock dividend were declared and distributed, capital stock would be:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418181

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