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The stockholders' equity section of Sheridan Corporation consists of common stock ($10 par) $2,350,000 and retained earnings $526,000. A 10% stock dividend (23,500 shares) is dedared when the market price per share is $14. Show the before-and-after effects of the dividend on the following.

The stockholders' equity section of Sheridan Corporation consists of common stock ($10 par) $2,350,000 and retained earnings $526,000. A 10% stock dividend (23,500 shares) is dedared when the market price per share is $14. Show the before-and-after effects of the dividend on the following.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The stockholders' equity section of Sheridan Corporation consists of common stock ($10 par) $2,350,0000 and retained earnings $526,000. A 10% stock dividend (23,500 shares) is decdared when the market price per share is $14. Show the before-and-after effects of the dividend on the following. (a) The components of stockholders' equity. (b) Shares outstanding. (c) Par value per share. Before After Dividend Dividend Stockholders' equity 2$ 2$ Outstanding shares Par value per share $ 2$
Transcribed Image Text:The stockholders' equity section of Sheridan Corporation consists of common stock ($10 par) $2,350,0000 and retained earnings $526,000. A 10% stock dividend (23,500 shares) is decdared when the market price per share is $14. Show the before-and-after effects of the dividend on the following. (a) The components of stockholders' equity. (b) Shares outstanding. (c) Par value per share. Before After Dividend Dividend Stockholders' equity 2$ 2$ Outstanding shares Par value per share $ 2$
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