Lett corp declared and issued a 15 stock dividend when, Ask an Expert

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Lett Corp declared and issued a 15% stock dividend when they had 100,000 shares of common stock issued and outstanding. The market price of the stock was $20 per share on the declaration date. As a result of the stock dividend, Lett's total stockholder's equity

increased by $300,000
decreased by $300,000
decreased by $15,000
did not change

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796803

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