Question
On October 1, 2021, Chief Corporation declared and issued a 11% stock dividend. Before this date, Chief had 81,000 shares of $5 par common stock
On October 1, 2021, Chief Corporation declared and issued a 11% stock dividend. Before this date, Chief had 81,000 shares of $5 par common stock outstanding. The market price 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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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
