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Compute the par value per share after the stock dividend

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Question - On October 1, Sandhill Corporation's stockholders' equity is as follows.

Common stock, $5 par value $379,500

Paid-in capital in excess of par-common stock 24,000

Retained earnings 161,000

Total stockholders' equity $564,500

On October 1, Sandhill declares and distributes a 10% stock dividend when the market price of the stock is $14 per share.

Required -

Compute the par value per share (1) before the stock dividend and (2) after the stock dividend.

Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed.

Reference no: EM132833235

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