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trangldtruong trangldtruong
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5 years ago
Nice International originally issued 106,000 shares of common stock at a price of $21 per share. A year later, it distributed a 13% stock dividend to shareholders. At the time of the stock dividend, the share price had increased to $24 per share. Which of the following statements is true?
A) Nice will record sales revenues of $289,380.
B) Nice will record a loss of $41,340.
C) Nice will record a gain of $41,340.
D) Nice will record neither a gain nor a loss.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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my2redeyesmy2redeyes
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5 years ago
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trangldtruong Author
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#2
5 years ago
Appreciate the effort you put into answering, thank you!
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#3
5 years ago
You're very welcome
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