On January 1, Sheridan Corporation had 740000 shares of $10 par value common stock outstanding. On March 31, the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event:
a. Sheridan Paid-in Capital in Excess of Par account increased $1110000
b. Sheridan total stockholders' equity was unaffected.
c. Sheridan Stock Dividends account increased by $2220000.
d. All of these answers are correct.
Answers: 1
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On January 1, Sheridan Corporation had 740000 shares of $10 par value common stock outstanding. On M...
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