On January 1, Pina Colada Corp. had 770000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event, Pina's Paid-in Capital in Excess of Par Value account increased $1155000. O Pina's total stockholders' equity was unaffected. O Pina's Stock Dividends account increased $2310000. All of these answer choices are correct.
On January 1, Pina Colada Corp. had 770000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event, Pina's Paid-in Capital in Excess of Par Value account increased $1155000. O Pina's total stockholders' equity was unaffected. O Pina's Stock Dividends account increased $2310000. All of these answer choices are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:On January 1, Pina Colada Corp. had 770000 shares of $10 par value common stock outstanding. On March 31 the company declared
a 15% stock dividend. Market value of the stock was $20/share. As a result of this event,
O Pina's Paid-in Capital in Excess of Par Value account increased $1155000.
O Pina's total stockholders' equity was unaffected.
Pina's Stock Dividends account increased $2310000.
All of these answer choices are correct.
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