Question
Stuart owns 2,000 shares of Blue Corporation stock. During the year, Stuart received 100 shares of Blue Corporation stock as a result of a 5%
Stuart owns 2,000 shares of Blue Corporation stock. During the year, Stuart received 100 shares of Blue Corporation stock as a result of a 5% stock dividend. Stuart was given the option of receiving cash from Blue, but he chose the stock dividend. The additional shares he received had a value of $7,200. Stuarts gross income from the receipt of the additional Blue shares is:
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather
8th Edition
0470929383, 978-0470929384
