newconnect.mheducation.com N Yahool gold-soul. la women\'s swi... shophearts Clo

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newconnect.mheducation.com N Yahool gold-soul. la women's swi... shophearts Cloud Job Description Bing Yahoo Google Wikipedia Quiz Louie Company Has A Defined Benefit Pensi Ortega Inc. has a defined benefit pension. Saved Help Save & Exit Submit On October 1,2018, Chief Corporation declared and issued a 6% stock dividend. Before this date, Chief had 80,000 shares of $5 par common stock outstanding. The market value of Chief Corporation on the date of declaration was $10 per share. As a result of this dividend, Chief's retained earnings will Multiple Choice Decrease by $48,000 Decrease by $49.500 Increase by $48.000 Not change

Explanation / Answer

Answer is decreased by $ 48000 Explanation: Numbr of shares outstanding 80000 Stock dividend 6% Number of shares of stock dividend 4800 Market price per share 10 Amount of stock dividend 48000 (to be taken from retained earnings)

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