I KNOW THE ANSWER PLEASE EXPLAIN HOW YOU GET TO THE ANSWER THANK YOU. On June...
I KNOW THE ANSWER PLEASE EXPLAIN HOW YOU GET TO THE ANSWER THANK YOU.
On June 30, the board of directors of Sandals, Inc. declares a 100% stock dividend on its 30,000, $1 par, common share. The market price of Sandals common stock is $35 on June 30. The effect of the issuance of stock dividend is
A. decrease retained earnings by 30,000
B. decrease retained earnings by 1,050,000
C. increase common stock by 1,050,000
D. increase additional paid-in capital by 30,000
Homework Answers
Solution:
As 100% stock dividend is considered as large stock dividend, therefore same will be recorded at par value.
Stock dividend will be recorded at = 30,000*$1*100% = $30,000
Hence the effect of the issuance of stock dividend is "decrease retained earnings by 30,000"
Hence option A is correct.
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I KNOW THE ANSWER PLEASE EXPLAIN HOW YOU GET TO THE
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