Question
On January 1, Metlock, Inc. had 680000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend.
On January 1, Metlock, Inc. had 680000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event,
A.Metlocks Paid-in Capital in Excess of Par Value account increased $1020000.
B.Metlocks total stockholders equity was unaffected.
C.Metlocks Stock Dividends account increased $2040000.
D.All of these answer choices are correct.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
