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Accounting

Problem:

Holts currently has a common stock account balance of $630,000 and a retained earnings account balance of $984,000. The stock has a par value of $1 per share and a market value of $22 per share. Holts has declared a 7 percent stock dividend.

Required:

Question: What will the market price of the stock be after the stock dividend?

20.46
20.56
22.00
23.54

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167525

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