Question
On May 1, 2021, Waterway Industries declared and issued a 10% common stock dividend. Prior to this dividend, Waterway had 202000 shares of $1 par
On May 1, 2021, Waterway Industries declared and issued a 10% common stock dividend. Prior to this dividend, Waterway had 202000 shares of $1 par value common stock issued and outstanding. The fair value of Waterway's common stock was $23 per share on May 1, 2021. As a result of this stock dividend, Waterway's total stockholders' equity
decreased by $23000.
increased by $464600.
did not change.
decreased by $464600.
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
Ethics in Accounting A Decision Making Approach
Authors: Gordon Klein
1st edition
1118928334, 978-1118928332
