Multiple Choice
On June 30,2014,Lynch Co.declared and issued a 15 percent stock dividend.Prior to this dividend,Lynch had 50,000 shares of $10 par value common stock issued and outstanding.The market value of Lynch Co.'s common stock on June 30,2014,was $24 per share.As a result of this stock dividend,by what amount would Lynch's total stockholders' equity increase (decrease) ?
A) $0
B) $75,000
C) $70,000
D) $(70,000)
Correct Answer:
Verified
Correct Answer:
Verified
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