Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. It has 306000 shares of $5 par value common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock: retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280. O net income will decrease by $137700. O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280. O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700. eTexthocok and Media
Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. It has 306000 shares of $5 par value common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock: retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280. O net income will decrease by $137700. O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280. O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700. eTexthocok and Media
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5E: Stock Dividend Comparison Although Oriole Company has enough retained earnings legally to declare a...
Related questions
Question
![View Policies
Current Attempt in Progress
Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. t has 306000 shares of $5 par value
common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock:
O retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280.
O net income will decrease by $137700.
O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280.
O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700.
eTextbook and Media
Save for Later
Attempts: 0 of 2 used
Submit Answer
回]可
96
3
5
7
e
у
d
C
b](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9f2577d-0fa5-43a9-8d03-ba5a62385e10%2F1c255546-acbe-4bdb-88c5-d7303cb68043%2Fb8lxheh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:View Policies
Current Attempt in Progress
Swifty Inc. has retained earnings of $790000 and total stockholders' equity of $1910000. t has 306000 shares of $5 par value
common stock outstanding, which is currently selling for $32 per share. If Swifty declares a 9% stock dividend on its common stock:
O retained earnings will decrease by $881280 and total stockholders' equity will increase by $881280.
O net income will decrease by $137700.
O retained earnings will decrease by $881280 and total paid-in capital will increase by $881280.
O retained earnings will decrease by $137700 and total stockholders' equity will increase by $137700.
eTextbook and Media
Save for Later
Attempts: 0 of 2 used
Submit Answer
回]可
96
3
5
7
e
у
d
C
b
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
PFIN (with PFIN Online, 1 term (6 months) Printed…
Finance
ISBN:
9781337117005
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT