12/31/2015 shareholder equity of TomTom Corporation: 75 million common shares at $1.00 Par each = $75 million. The Paid-In Capital in excess of par at 12/31/2015 = $16,800 million. Retained earnings at the same date was = $34,000 million. A 7% stock dividend was declard and paid (and distributed) in April of 2016. $24 per share was the market value of TomTom's stock on the date of the declaration of this stock dividend. Assume fractional share rights represented 4 million equivalent whole shares. TomTom paid cash in lieu of distribution of fractional shares. Provide the declaration and distribution of this stock dividends:
This question was answered on: Sep 21, 2023
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