On December 31, 2014, when JR Corporation's shares were selling at $44 per share, its shareholders' equity accounts were as follows: Common shares (no par value) = 100,000 Shares Issues and outstanding = $2,700,000 Retained earnings (credit) = $4,450,000
A 100 percent stock dividend was declared and issued.The effect of this dividend was:
A) Common shares increased to $6,460,000.
B) Total shareholders' equity decreased.
C) Total shareholders' equity did not change.
D) Common shares increased to $5,600,000.
Correct Answer:
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