Multiple Choice
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,
A) Edison's Paid-in Capital in Excess of Par account increased $1,600,000.
B) Edison's total stockholders' equity was unaffected.
C) Edison's Stock Dividends account increased $3,600,000.
D) All of these answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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