On October 1, 2016, ABC Corporation declared and issued a 13% stock dividend. Before this...
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Accounting
On October 1, 2016, ABC Corporation declared and issued a 13% stock dividend. Before this date. ABC had 82, 000 shares of $5 par common stock outstanding. The market value of ABC Corporation on the date of declaration was $10 per share. As a result of this dividend, ABC's retained earnings will: Decrease by $106, 600. Increase by $106, 600. Not change. Decrease by $108, 100
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