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On January 1, Edison Corporation had 1,000,000 shares of $10 par value common stock outstanding....

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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.

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