On January 1, 2021, Dodd, Inc., declared a 10% stock dividend on its common stock when the fair value of the common stock was $30 per share. Stockholders' equity before the stock dividend was declared consisted of: Common stock, $10 par value, authorized 200,000 shares; ​ issued and outstanding 120,000 shares $1,200,000 Additional paid-in capital on common stock 150,000 Retained earnings 700,000 Total stockholders' equity $2,050,000 What was the effect on Dodd's retained earnings as a result of the above transaction? a. $300,000 decrease b. $180,000 decrease c. $360,000 decrease d. $600,000 decrease

On January 1, 2021, the stockholders’ equity section of Jayhawk Corporation’s balance sheet showed the following   Preferred stock, $100 par value, 5%, 50,000 shares authorized,      5,000 shares issued and outstanding $500,000 Additional Paid-in-Capital, Preferred Stock 100,000 Common stock, $3 par value, 500,000 shares authorized,      20,000 shares issued and outstanding 60,000 Additional Paid-in-Capital, Common Stock 250,000 Total Contributed Capital 910,000 Retained Earnings 320,000 Total Stockholders' Equity $1,230,000                   During the year, 2021, the following transactions occurred:               February 2       Issued 2,000 shares of common stock for $22 per share.             April 15           Issued 1,000 shares of preferred stock for $125 per share.             July 10           Repurchased 500 shares of common stock (treasury stock) at $20       per share.       Required:   Prepare journal entries to…

On January 1, 2021, Pina Corporation had 119000 shares of its $0.001 par value common stock outstanding. On November 27, when the market price of the stock was $9, the corporation declared a 10% stock dividend to be issued to stockholders of record on December 28, 2021. What was the impact of the 10% stock dividend on the balance of the retained earnings account? $11900 decrease O $107100 decrease No effect ○ $95200 decrease

On October 1, 2021 Chief Corporation declared and issued a 10% stock dividend. Before this date, Chief had 80,000 shares of $5 par common stock outstanding. Te of Chief Corporation on the date of desiaration was $10 per share.  As a result of this dividend, Chief's retained earnings will