Acorporation declared and issued a 10% stock dividend on october 1. the following information was available immediately prior to the dividend: retained earnings $ 830,000 shares issued and outstanding 68,000 market value per share $ 23 par value per share $ 5 the amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:

The share capital will increase by $34000

Explanation:

dividend declared is in stock (10% of existing holding)

Share capital = 68,000 shares. dividend = 10% of 68,000 = 6,800

Par value  of share is $5 per unit. Thus share capital increase is $5 x 6,800 = $32,000

share premium (23-5)= $18 per share. Thus share premium reserve will increase by 18 x 6,800 = $122,400  

share premium is the difference between market value and par value of shares.

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