Universe co issued 500000 shares of common stock in the, Ask an Expert

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Universe Co. issued 500,000 shares of common stock in the current year. Universe declared a 30% stock dividend. The market value was $50 per share, the par value was $10, and the average issue price was $30 per share. By what amount will Universe decrease stockholders' equity for the dividend?

$7,500,000

$4,500,000

$1,500,000

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91977446

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