Question
An 8% stock dividend on 12,000 shares of outstanding preferred stock with a par value of $20 per share and a market value of
An 8% stock dividend on 12,000 shares of outstanding preferred stock with a par value of $20 per share and a market value of $60 a share will have what effect on the accounting equation? Increase preferred stock by $57,600. Increase cash by $38,400. O Decrease retained earnings by $57,600. Decrease retained earnings by $19,200.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th edition
1118096894, 978-1-11921511, 978-1118096895
