Cash dividends declared on the no par value common shares of Athens Corp. were as follows: The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9, 2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares issued and outstanding, and the market value of the common shares was $ 16 per share. The shares were issued on December 21, 2020. What was the effect on Athens' shareholders' equity accounts during 2020 as a result of the above transactions?

Question

Cash dividends declared on the no par value common shares of Athens Corp. were as follows:  The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9, 2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares issued and outstanding, and the market value of the common shares was $ 16 per share. The shares were issued on December 21, 2020. What was the effect on Athens' shareholders' equity accounts during 2020 as a result of the above transactions?

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The Answer of Cash dividends declared on the no par value common shares of Athens Corp. were as follows:  The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9, 2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares issued and outstanding, and the market value of the common shares was $ 16 per share. The shares were issued on December 21, 2020. What was the effect on Athens' shareholders' equity accounts during 2020 as a result of the above transactions?

Cash Dividends Declared on the No Par Value Common Shares