Stock Dividends The owners’ equity accounts for Hexagon International are shown here:
Common stock ($1 par value) | $ 20,000 |
Capital surplus | 210,000 |
Retained earnings | 735,300 |
Total owners’ equity | $965,300 |
a. If Hexagon stock currently sells for $48 per share and a10 percent stock dividend is declared, how many new shares will be distributed? Show how the equity accounts would change.
b. If Hexagon declared a 25 percent stock dividend, how would the accounts change?
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