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Fox Inc. had 400,000 shares of $3 par common stock outstanding. The company declared...

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Question

Accounting

Fox Inc. had 400,000 shares of $3 par common stock outstanding. The company declared a stock dividend of 50,000 shares when the market price was $30. By how much did additional paid-in capital increase when the dividend was distributed to the shareholders?
$0
$1,350,000
$150,000
$1,500,000

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