Problem murphys inc has 55000 shares of stock outstanding, Ask an Expert

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Problem: Murphy's, Inc. has 55,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $12.00 per share. The balance sheet shows $71,500 in the capital in excess of par account, $55,000 in the common stock account, and $135,500 in the retained earnings account. The firm just announced a 11 percent (small) stock dividend.

Requirement:

Question: What will the balance in the capital in excess of par account be after the dividend?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167150

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