Reference no: EM132811630
A company issued 100,000 shares of $1 par value stock for $25 per share. Subsequently, the company declared and paid a $3 (per share) stock dividend. On the date the dividend was declared, the market price of the shares is $50 per share.
Question 1: What is the effect of the dividend on the number of shares outstanding?
a. The number increased
b. The number decreased
c. The number remained the same
d. None of the above
Question 2: Refer to the previous question. By what amount did the number of shares outstanding change, if at all? (If the account balance or amount did not change, state your answer as "$0.")
Question 3: What is the effect of the dividend on Retained Earnings?
a. Retained earnings increased
b. Retained earnings decreased
c. Retained earnings remained the same
d. None of the above
Question 4: Refer to the previous question. By what amount did Retained Earnings change, if at all? (If the account balance or amount did not change, state your answer as "$0.")
Question 5: What is the effect of the dividend on Common Stock?
a. Common Stock increased
b. Common Stock decreased
c. Common Stock remained the same
d. None of the above
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