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On January 1, Sheffield Corp. had 2500000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend.

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On January 1, Sheffield Corp. had 2500000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $12/ share. As a resuit of this event. Shetheld's Paid-in Capital in Excess of Par Value account increased $750000. Sheffiold's total stockholders' equity was unatfected. Sheffield's Stock Dividends account increased $4500000. All of these answer choices are correct

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