On October 1st Martin Corp have the following balance in stockholders equity Com
ID: 2648138 • Letter: O
Question
On October 1st Martin Corp have the following balance in stockholders equity
Common stock, $5 par value 400,000
Paid in Capital in excess of par 25,000
Retained earnings 155,000
Total SE 580,000
On October 1 Martin declares and distributes a 10% stock dividend when the market price of the stock is $15 per share
What are the balances in the three stockholders
Explanation / Answer
Stock dividend: This is the distribution of company