On January 1, Edison Corporation had 1,000,000 shares of $10 par value common stock outstanding....
80.2K
Verified Solution
Link Copied!
Question
Accounting
On January 1, Edison Corporation had 1,000,000 shares of $10 par value common stock outstanding. On March 31, the company declared a 20% stock dividend. Market value of the stock was $18/share. As a result of this event,
Edisons Paid-in Capital in Excess of Par account increased $1,600,000. Edisons total stockholders equity was unaffected. Edisons Stock Dividends account increased $3,600,000. All of these answers are correct.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
