Multiple Choice
Gilbert Corporation issued a 40percent stock split-up of its common stock that had a par value of $10 before and after the split-up.At what amount should retained earnings be capitalized for the additional shares issued?
A) There should be no capitalization of retained earnings
B) Par value
C) Market value on the declaration date
D) Market value on the payment date
Correct Answer:
Verified
Correct Answer:
Verified
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