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H3Ko H3Ko
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Posts: 4891
8 years ago
Nice International originally issued 105,000 shares of common stock at a price of $22 per share. A year later, it distributed a 12% stock dividend to shareholders. At the time of the stock dividend, the share price had increased to $27 per share. Which of the following statements is true?
A) Nice will record sales revenues of $277,200.
B) Nice will record a gain of $63,000.
C) Nice will record a loss of $63,000.
D) Nice will record neither a gain nor a loss.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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8 years ago
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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