On January 1, 2012, Dodd, Inc., declared a 10% ordinary share dividend when the fair value of the ordinary shares was $20 per share.Equity before the share dividend was declared consisted of:
What was the effect on Dodd's retained earnings as a result of the above transaction?
A) $120,000 decrease
B) $240,000 decrease
C) $400,000 decrease
D) $200,000 decrease
Correct Answer:
Verified
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