Question
On October 1, 2018, Chief Corporation declared and issued a 8% stock dividend. Before this date, Chief had 87,000 shares of $5 par common stock
On October 1, 2018, Chief Corporation declared and issued a 8% stock dividend. Before this date, Chief had 87,000 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:
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A Textbook Of Accounting For Management
Authors: S.N. Maheshwari
3rd Edition
9325956195, 978-9325956193
