Question: On October 1 , 2 0 0 9 , Chief Corporation declared and issued a 9 % stock dividend. Prior to this date, Chief had

On October 1,2009, Chief Corporation declared and issued a 9% stock dividend. Prior to this date, Chief had 85,000 shares of $5 par common stock outstanding. The market value of Chief Corporation on the date of declaration was $10 per share. As a result of this dividend, Chief's retained earnings will:
Increase by $76,500.
Not change.
Decrease by $76,500.
Decrease by $38,250.
On October 1 , 2 0 0 9 , Chief Corporation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

On October 1 , 2 0 2 1 , Chief Corporation declared and issued a 1 1 % stock dividend. Before this date, Chief had 7 7 , 0 0 0 shares of $ 5 par common stock outstanding. The market price of Chief...

Q:

On October 1 , 2 0 2 4 , Chief Corporation declared and issued a 1 0 % stock dividend. Before this date, Chief had 8 0 , 0 0 0 shares of $ 5 par common stock outstanding. The market value of Chief...

Q:

Which of the following is not considered a pro forma financial statement? Seleccione una O a Balance sheet b. Sales budget Oc Income statement Od Cash flow statement Borrar mi eleccin On October...

Q:

1, 2018, Chief Corporation declared and issued a 11% stock dividend. Before this date, Chief had 75,000 shares of $5 par common stock outstanding. The market value of Chief Corporation on the date of...

Q:

Required information Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections...

Q:

Please advise if you can answer all the questions in attached questionnaire as per the attachedcase of IVEY PUBLISHING: 9B14N013. (HUDBAY MINERALS: ACQUISITION OF NORSEMONT MINING. If answering all...

Q:

1 hr time limit. urgent Assignments: CONCEPTUAL FRAI X Assignments: CONCEPTUAL FRAN X Question 1 - Acctg for Corpo. -M X Homework Help - Q&A from Onl X + X C D...

Q:

8 Accounting problems, simple Accounting 101 problems 5/13/2016 Chapter 11 Exercises Katie Byrd Acct 211: ACCT 211 - Spring D 2016 24 Chapter 11 Exercises 1. instructions | help value: 1.25 points...

Q:

please provide all ratios Earnings per Share of Common Stock Current Ratio Gross Profit Rate Profit Margin Inventory Turnover Days in Inventory Accounts Receivable Turnover Average Collection Period...

Q:

i have 30 min time limit please help Assignments: CONCEPTUAL FRAI X Assignments: CONCEPTUAL FRAN X Question 1 - Acctg for Corpo. -M X Homework Help - Q&A from Onl X + X C D...

Q:

The weights of X, Y, and Z in this efficient portfolio are? You wish to construct the efficient portfolio that consists of the three stocks: X, Y and Z and pays 25% expected return. The expected...

Q:

(a) Determine the equation of the elastic curve for the overhanging beam; and (b) calculate the value of El midway between the supports. 300 N/m 2.7 kN m 3 m3 m3 m3 m- FIG. P6.28

Q:

( d ) If one uses the WACC formula in financing corporate operations, how is this formula calculated?

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...