Homework Answers
Answer: $610,000
Explanation:
Journal entry for issue of stock dividend is
1.Retained Earnings Dr. xxx
Common stock dividend distributable Cr. xxx
Paid in capital in excess of par Cr. xxx
2. Common stock dividend distributable Dr. xxx
Common stock Cr. xxx
As a result, the issue of stock dividend involves transfer of amount among those items which are included to calculate the stockholders' equity.
Therefore, after issue of 10% stock dividend, the stockholders' equity remains the same i.e. $610,000.
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