Problemon june 30 2015 roger company showed the following, Ask an Expert

Accounting

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On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet:

Stockholders' equity
Common stock, $1 par	190,000 shares authorized,
	140,000 shares issued and outstanding	$140,000
Paid-in capital in excess of par-Common		260,000
Retained earnings		940,000
Total stockholder's equity		$1,340,000

On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new balance in the Common stock account?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92719785

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