Question
On October 1, 2016, Chief Corporation declared and issued a 8% stock dividend. Before this date, Chief had 81,000 shares of $5 par common stock
| On October 1, 2016, Chief Corporation declared and issued a 8% stock dividend. Before this date, Chief had 81,000 shares of $5 par common stock outstanding. The market value of Chief Corporation on the date of declaration was $10 per share. As a result of this dividend, Chief's retained earnings will: |
Not change.
Decrease by $64,800.
Decrease by $65,800.
Increase by $64,800.
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International Accounting
Authors: Shirine Rathore
2nd Edition
8120336739, 9788120336735
