Stock dividend on fidelitys net assets

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Reference no: EM13126926

Fidelity has 60,000 shares of $1 par common stock outstanding. Suppose Fidelity distributes a 10% stock dividend when the market value of its stock is $11.50 per share. Journalize Fidelity's distribution of the stock dividend on May 11. What was the overall effect of the stock dividend on Fidelity's total assets? On total liabilities? On total stockholders' equity?

Reference no: EM13126926

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