QUIZ IN SHAREHOLDERS’ EQUITY

1. 1st Statement: Participating preferred stock requires that if a company fails to pay a dividend in any
year, it must make it up in a later year before paying any common dividends.
2nd Statement: Stock splits and large stock dividends have the same effect on a company’s retained
earnings and total stockholders’ equity.
A. Only the 1st Statement is correct.
B. Only the 2nd Statement is correct.
C. Both statements are correct.
D. Both statements are incorrect.

2. Stockholders' equity is generally classified into two major categories:

A. contributed capital and appropriated capital.
B. earned capital and contributed capital.
C. appropriated capital and retained earnings.
D. retained earnings and unappropriated capital

3. Stock warrants outstanding should be classified as

A. capital stock
B. reductions of capital contributed in excess of par value
C. additions to contributed capital
D. liabilities

4. Brother Inc. has outstanding 300,000 shares of ₱2 par common stock and 60,000 shares of no-par 8%
preferred stock with a stated value of ₱5. The preferred stock is cumulative and nonparticipating.
Dividends have been paid in every year except the past two years and the current year. Assuming that
₱63,000 will be distributed as a dividend in the current year, how much will the preferred stockholders
receive?
A. ₱24,000
B. ₱21,000
C. ₱63,000
D. ₱48,000

5. Dividends are not paid on

A. treasury common stock
B. noncumulative preferred stock
C. Dividends are paid on all of these
D. nonparticipating preferred stock

6. The Brother Corporation had the following classes of stock outstanding as of December 31, 2015:
Ordinary share, ₱20 par value, 20,000 shares outstanding Preferred stock, 6 percent, ₱100 par value,
cumulative, 2,000 shares outstanding No dividends were paid on preferred stock for 2013 and 2014. On
December 31, 2015, a total cash dividend of ₱200,000 was declared. What are the amounts of dividends
payable on preference shareholders?
A. P12,000
B. P36,000
C. P200,000
D. P24,000

7. Brother Co. has outstanding 50,000 shares of 8% preferred stock with a ₱10 par value and 125,000
shares of ₱3 par value common stock. Dividends have been paid every year except last year and the

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 QUIZ IN SHAREHOLDERS’ EQUITY
current year. If the preferred stock is cumulative and nonparticipating and ₱250,000 is distributed, the
common stockholders will receive
A. ₱250,000
B. ₱170,000
C. ₱0
D. ₱210,000

8. “Gains" on sales of treasury stock (using the cost method) should be credited to
A. Share premium from treasury stock.
B. other income
C. retained earnings
D. capital stock

9. A company issued rights to its existing shareholders to purchase for par unissued shares of ordinary
share with a par value of ₱10 per share. When the market value of the ordinary share was ₱12 per share,
the rights were exercised. Ordinary share should be credited at ₱10 per share and
A. Retained Earnings credited at ₱2 per share
B. Paid-In Capital from Stock Rights credited at ₱2 per share
C. Additional Paid-In Capital credited at ₱2 per share
D. no credit made to Additional Paid-In Capital or Retained Earnings.

10. Which of the following is least likely to affect the retained earnings balance?
A. Stock splits
B. Treasury stock transactions
C. Conversion of preferred stock into common stock
D. Stock dividends

11. When treasury stock is purchased for more than the par value of the stock and the cost method is used to
account for treasury stock, what account(s) should be debited?
A. Treasury stock for the par value and paid-in capital in excess of par for the excess of the purchase
price over the par value.
B. Treasury stock for the par value and retained earnings for the excess of the purchase price over the
par value.
C. Treasury stock for the purchase price.
D. Paid-in capital in excess of par for the purchase price.

12. Undistributed stock dividends should be reported as

A. a note to the financial statements.
B. an addition to capital stock outstanding
C. a reduction in total stockholders' equity
D. a current liability

13. On September 1, 2018, Brother Company reacquired 12,000 shares of its ₱10 par value common stock
for ₱15 per share. Brother uses the cost method to account for treasury stock. The journal entry to record
the reacquisition of the stock should debit
A. Common Stock for ₱120,000 and Paid-in Capital in Excess of Par for ₱60,000
B. Treasury Stock for ₱180,000
C. Treasury Stock for ₱120,000
D. Common Stock for ₱120,000

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 QUIZ IN SHAREHOLDERS’ EQUITY
14. When a corporation issues its capital stock in payment for services, the least appropriate basis for
recording the transaction is the
A. market value of the services received.
B. Any of these provides an appropriate basis for recording the transaction.
C. par value of the shares issued.
D. market value of the shares issued.

15. On 2015, Brother Corporation issued for ₱110 per share, 15,000 shares of ₱100 par value convertible
preferred stock. One share of preferred stock may be converted into three shares of Brother's ₱25 par
value ordinary share at the option of the preferred shareholder. On December 31, 2016, all of the
preferred stock was converted into ordinary share. The market value of the ordinary share at the
conversion date was ₱40 per share. What amount should be credited to the ordinary share account on
December 31, 2016?
A. ₱1,650,000
B. ₱1,800,000
C. ₱1,500,000
D. ₱1,125,000

16. Brother Inc. has outstanding 300,000 shares of ₱2 par common stock and 60,000 shares of no-par 8%
preferred stock with a stated value of ₱5. The preferred stock is cumulative and nonparticipating.
Dividends have been paid in every year except the past two years and the current year. Assuming that
₱183,000 will be distributed, and the preferred stock is also participating, how much will the common
stockholders receive?
A. ₱90,000
B. ₱111,000
C. ₱48,000
D. ₱93,000

17. Brother Company acquired 6,000 shares of its own common stock at ₱20 per share on February 5, 2016,
and sold 3,000 of these shares at ₱27 per share on August 9, 2017. The market value of Brother's
common stock was ₱24 per share at December 31, 2016, and ₱25 per share at December 31, 2017. The
cost method is used to record treasury stock transactions. What account(s) should Brother credit in 2017
to record the sale of 3,000 shares?
A. Treasury Stock for ₱60,000 and Paid-in Capital from Treasury Stock for ₱21,000
B. Treasury Stock for ₱60,000 and Retained Earnings for ₱21,000
C. Treasury Stock for ₱81,000
D. Treasury Stock for ₱72,000 and Retained Earnings for ₱9,000

18. The declaration and issuance of a stock dividend larger than 25% of the shares previously outstanding
A. increases common stock outstanding and increases total stockholders' equity.
B. increases retained earnings and increases total stockholders' equity.
C. decreases retained earnings but does not change total stockholders' equity.
D. may increase or decrease paid-in capital in excess of par but does not change total stockholders'
equity.

19. Assume common stock is the only class of stock outstanding in the B-Bar-B Corporation. Total
stockholders' equity divided by the number of common stock shares outstanding is called
A. market value per share
B. par value per share
C. book value per share
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 QUIZ IN SHAREHOLDERS’ EQUITY
D. stated value per share

20. A company issued rights to its existing shareholders to acquire, at ₱15 per share, 5,000 unissued shares
of common stock with a par value of ₱10 per share. Common Stock will be credited at
A. ₱15 per share when the rights are issued
B. ₱10 per share when the rights are issued
C. ₱15 per share when the rights are exercised
D. ₱10 per share when the rights are exercised

21. At January 1, 2019, Brother Corporation had outstanding capital stock as shown below. On December
31, 2019, it declared and paid cash dividends of P48,000 to the preferred stockholders. Common stock—
1,000,000 shares outstanding, P1 par value. Preferred stock—2,000 shares outstanding, 75 par, 8%,
cumulative. The stock was issued at a price of P15 per share. At December 31, 2019, how many years
were the preferred dividends in arrears?
A. Two years
B. Four years
C. One year
D. Three years

22. The issuer of a 5% common stock dividend to common stockholders preferably should transfer from
retained earnings to contributed capital an amount equal to the
A. book value of the shares issued.
B. minimum legal requirements.
C. market value of the shares issued.
D. par or stated value of the shares issued.

23. Brother Inc. has outstanding 300,000 shares of ₱2 par common stock and 60,000 shares of no-par 8%
preferred stock with a stated value of ₱5. The preferred stock is cumulative and nonparticipating.
Dividends have been paid in every year except the past two years and the current year. Assuming that
₱150,000 will be distributed as a dividend in the current year, how much will the common stockholders
receive?
A. ₱78,000
B. ₱126,000
C. Zero
D. ₱102,000

24. Brother Company has not declared or paid dividends on its cumulative preferred stock in the last three
years. These dividends should be reported
A. in a note to the financial statements
B. as a current liability
C. as a reduction in stockholders' equity
D. as a noncurrent liability

25. 1st Statement: The preemptive right allows stockholders the right to vote for directors of the company.
2nd Statement: When a corporation sells treasury stock below its cost, it usually debits the difference
between cost and selling price to Paid-in Capital from Treasury Stock.
A. Only the 2nd Statement is correct.
B. Only the 1st Statement is correct.
C. Both statements are correct.
D. Both statements are incorrect.
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 QUIZ IN SHAREHOLDERS’ EQUITY
26. Assume the following shares outstanding: Preferred stock, 6%, P50 par value, cumulative, 1,000 shares
with dividends in arrears 3 years, for 2016, 2017, and 2018. Common stock, P100 par value, 2,000
shares. Total dividends declared in 2009 were P50,000. The total amount of dividends to which common
stockholders are entitled is
A. P45,000
B. P62,000
C. P50,000
D. P38,000

27. On June 30, 2017, when Brother Co.'s stock was selling at ₱65 per share, its capital accounts were as
follows: Capital stock (par value ₱50; 60,000 shares issued) ₱3,000,000 Premium on capital stock
600,000 Retained earnings 4,200,000. If a 100% stock dividend were declared and distributed, capital
stock would be
A. ₱7,800,000
B. ₱3,600,000
C. ₱3,000,000
D. ₱6,000,000

28. Brother Inc. has outstanding 300,000 shares of ₱2 par common stock and 60,000 shares of no-par 8%
preferred stock with a stated value of ₱5. The preferred stock is cumulative and nonparticipating.
Dividends have been paid in every year except the past two years and the current year. Assuming that
₱63,000 will be distributed as a dividend in the current year, how much will the preferred stockholders
receive?
A. ₱24,000
B. ₱21,000
C. ₱63,000
D. ₱48,000

29. Stock warrants outstanding should be classified as

A. capital stock
B. reductions of capital contributed in excess of par value
C. additions to contributed capital
D. liabilities

30. The issuer of a 5% common stock dividend to common stockholders preferably should transfer from
retained earnings to contributed capital an amount equal to the
A. book value of the shares issued.
B. minimum legal requirements.
C. market value of the shares issued.
D. par or stated value of the shares issued.

31. The pre-emptive right of a common stockholder is the right to

A. receive cash dividends before they are distributed to preferred stockholders.
B. exclude preferred stockholders from voting rights.
C. share proportionately in corporate assets upon liquidation.
D. share proportionately in any new issues of stock of the same class.

32. Unlike a stock split, a stock dividend requires a formal journal entry in the financial accounting records
because
A. stock dividends are payable on the date they are declared
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 QUIZ IN SHAREHOLDERS’ EQUITY
B. stock dividends increase the stockholders' equity in the issuing firm
C. stock dividends increase the relative book value of an individual's stock holdings
D. stock dividends represent a transfer from Retained Earnings to Capital Stock

33. Brother Corporation was incorporated on January 1, 2015, with the following authorized capitalization:
40,000 shares of ordinary share, no par value, stated value ₱40 per share 10,000 shares of 5 percent
cumulative preferred stock, par value ₱10 per share During 2015, Brother issued 24,000 shares of
ordinary share for a total of ₱1,200,000 and 6,000 shares of preferred stock at ₱16 per share. In addition,
on December 20, 2015, subscriptions for 2,000 shares of preferred stock were taken at a purchase price
of ₱17. These subscribed shares were paid for on January 2, 2016. What should Brother report as total
contributed capital on its December 31, 2015, balance sheet?
A. ₱1,040,000
B. ₱1,296,000
C. ₱1,262,000
D. ₱1,330,000

34. Brother, Inc. has 50,000 shares of ₱10 par value common stock and 25,000 shares of ₱10 par value, 6%,
cumulative, participating preferred stock outstanding. Dividends on the preferred stock are one year in
arrears. Assuming that Brother wishes to distribute ₱135,000 as dividends, the common stockholders
will receive
A. ₱30,000
B. ₱105,000
C. ₱55,000
D. ₱80,000

35. How should a "gain" from the sale of treasury stock be reflected when using the cost method of
recording treasury stock transactions?
A. As an increase in the amount shown for common stock.
B. As paid-in capital from treasury stock transactions.
C. As ordinary earnings shown on the income statement.
D. As an extraordinary item shown on the income statement.

36. The Brother Corporation had the following classes of stock outstanding as of December 31, 2015:
Ordinary share, ₱20 par value, 20,000 shares outstanding Preferred stock, 6%, ₱100 par value,
cumulative, 2,000 shares outstanding No dividends were paid on preferred stock for 2013 and 2014. On
December 31, 2015, a total cash dividend of ₱200,000 was declared. What are the amounts of dividends
payable on preference shareholders?
A. P12,000
B. P36,000
C. P200,000
D. P24,000

37. Which of the following actions or events does not result in an addition to retained earnings?
A. Correction of an error in which ending inventory was understated in a previous year
B. Earning of net income for the period
C. Issuance of a 3-for-1 stock split
D. A change from the double-declining-balance method to the straight-line method of depreciation.

38. The balance in Ordinary Shares Dividend Distributable should be reported as a(n)
A. addition to capital stock.
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 QUIZ IN SHAREHOLDERS’ EQUITY
B. deduction from common stock issued.
C. current liability
D. contra current asset

39. How should a "gain" from the sale of treasury stock be reflected when using the cost method of
recording treasury stock transactions?
A. As an increase in the amount shown for common stock.
B. As paid-in capital from treasury stock transactions.
C. As ordinary earnings shown on the income statement.
D. As an extraordinary item shown on the income statement.

40. The following information is available for the Brother Company. They have 10,000,000 common shares
issued, 500,000 million shares held in treasury, par value of P2 per share, and current market price of
P25 per share. They declare a 15% stock dividend. Which of the following is true?
A. Retained earnings will decrease and common stock will increase by $36.0 million.
B. Retained earnings will decrease and common stock will increase by $3 million.
C. Retained earnings will decrease and common stock will increase by $35.625 million
D. Retained earnings will decrease and common stock will increase by $2.85 million.

41. Wilson Corp. purchased its own par value stock on January 1, 2017 for ₱20,000 and debited the treasury
stock account for the purchase price. The stock was subsequently sold for ₱12,000. The ₱8,000
difference between the cost and sales price should be recorded as a deduction from
A. net income.
B. additional paid-in capital to the extent that previous net "gains" from sales of the same class of stock
are included therein; otherwise, from retained earnings.
C. retained earnings
D. additional paid-in capital without regard as to whether or not there have been previous net "gains"
from sales of the same class of stock included therein.

42. The declaration and issuance of a stock dividend larger than 25% of the shares previously outstanding
A. increases common stock outstanding and increases total stockholders' equity.
B. increases retained earnings and increases total stockholders' equity.
C. decreases retained earnings but does not change total stockholders' equity.
D. may increase or decrease paid-in capital in excess of par but does not change total stockholders'
equity.

43. Brother Inc. has outstanding 300,000 shares of ₱2 par common stock and 60,000 shares of no-par 8%
preferred stock with a stated value of ₱5. The preferred stock is cumulative and nonparticipating.
Dividends have been paid in every year except the past two years and the current year. Assuming that
₱150,000 will be distributed as a dividend in the current year, how much will the common stockholders
receive?
A. ₱78,000
B. ₱126,000
C. Zero
D. ₱102,000

44. Brother Company has 350,000 shares of P10 par value common stock outstanding. During the year,
Brother declared a 10% stock dividend when the market price of the stock was P30 per share. Four
months later, Brother declared a P.50 per share cash dividend. As a result of the dividends declared
during the year, retained earnings decreased by
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 QUIZ IN SHAREHOLDERS’ EQUITY
A. 1,242,500
B. 175,000
C. 192,500
D. 525,000

45. On March 2, 2015, Brother Corporation issued 4,000 shares of 6% cumulative P100 par value preferred
stock for P434,000. Each preferred share carried one nondetachable stock warrant which entitled the
holder to acquire, at P17, one share of Brother P10 par ordinary share. On March 2, 2015, the market
price of the preferred stock (without warrants) was P90 per share and the market price of the stock
warrants was P15 per warrant. The amount credited to Paid-in Capital in Excess of Par-Preferred by
Brother on the issuance of the stock was
A. 62,000
B. 0
C. 34,000
D. 8,000

46. On December 1, 2017, Brother Corporation exchanged 20,000 shares of its P10 par value ordinary
shares held in treasury for a used machine. The treasury shares were acquired by Brother at a cost of P40
per share, and are accounted for under the cost method. On the date of the exchange, the ordinary shares
had a fair value of P55 per share (the shares were originally issued at P30 per share). As a result of this
exchange, Brother’s total equity will increase by
A. 900,000
B. 200,000
C. 800,000
D. 1,100,000

47. Stockholder’s equity is generally classified into two major categories:

A. Contributed capital and appropriated capital
B. Earned capital and contributed capital
C. Appropriated capital and retained earnings
D. Retained earnings and unappropriated capital

48. Brother Company issued 10,000 shares of its P5 par value common stock having a market value of P25
per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share
for a lump sum of 480,000. How much of the proceeds would be allocated to the common stock?
A. 218,182
B. 255,000
C. 50,000
D. 250,000

49. Presented below is information related to Edis Corporation:

Common Stock, P1 par P4,300,000
Paid-in Capital in Excess of Par – Common Stock 550,000
Preferred 8 1/2 % Stock, P50 par 2,000,000
Paid-in Capital in Excess of Par – Preferred Stock 400,000
Retained Earnings 1,500,000
Treasury Common Stock (at cost) 150,000

The total paid in capital (cash collected) related to the common stock is
A. 4,700,000
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 QUIZ IN SHAREHOLDERS’ EQUITY
B. 4,850,000
C. 4,300,000
D. 5,250,000

50. The stockholder’s equity section of Brother Corporation as of December 31, 2016 was as follows:
Common stock, par value P2, authorized 20,000 shares;
issued and outstanding 10,000 shares P20,000
Paid-in Capital in excess of par 30,000
Retained Earnings 75,000
125,000

On March 1, 2017, the board of directors declared a 15% stock dividend, and accordingly 1,500
additional shares were issued. On March 1, 2017, the fair market value of the stock was P6 per share.
For the two months ended February 28, 2017, Brother sustained a net loss of 10,000. What amount
should Brother report as retained earnings as of March 1, 2017?
A. 56,000
B. 66,000
C. 62,000
D. 72,000

51. Brother Corporation was organized on January 1, 2014, at which date is issued 100,000 shares of P10
par ordinary share at P15 per share. During the period January 1, 2014, through December 31, 2016,
Brother reported net income of 450,000 and paid cash dividends of 230,000. On January 10, 2016,
Brother purchased 6,000 shares of its ordinary share at P12 per share. On December 31, 2016, Brother
sold 4,000 treasury shares at P8 per share. Brother uses the cost method of accounting for treasury
shares. What is Brother’s total stockholders’ equity on December 31, 2016?
A. 1,720,000
B. 1,704,000
C. 1,680,000
D. 1,688,000

52. On March 2, 2015, Brother Corporation issued 4,000 shares of 6% cumulative P100 par value preferred
stock for P434,000. Each preferred share carried one nondetachable stock warrant which entitled the
holder to acquire, at P17, one share of Brother P10 par ordinary share. On March 2, 2015, the market
price of the preferred stock (without warrants) was P90 per share and the market price of the stock
warrants was P15 per warrant. The amount credited to Paid-in Capital in Excess of Par-Preferred by
Brother on the issuance of the stock was
A. 62,000
B. 0
C. 34,000
D. 8,000

53. Brother Corporation was organized on January 3, 2015, with authorized capital of 100,000 shares of P10
par ordinary shares. During 2015, Brother had the following transactions affecting stockholders’ equity:
 January 7 – Issued 40,000 shares at P12 per share
 December 2 – Purchased 6,000 shares of treasury stock at P13 per share
The cost method was used to record the treasury stock transaction. Brother’s net income for 2015 is
P300,000. What amount of stockholders’ equity at December 31,2015?
A. 702,000
B. 720,000
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 QUIZ IN SHAREHOLDERS’ EQUITY
C. 640,000
D. 708,000

54. On January 1, 2017, Brother Corporation had 110,000 shares of its P5 par value ordinary shares
outstanding. On June 1, the corporation acquired 10,000 shares to be held in the treasury. On December
1, when the market price of the shares was P8, the corporation declared a 10% share dividend to be
issued to shareholders of record on December 16, 2017. What was the impact of the 10% share dividend
on the balance of the retained earnings account?
A. 50,000 decrease
B. 80,000 decrease
C. 88,000 decrease
D. No effect
55. The stockholders’ equity of Brother Company at July 31, 2017 is presented below:
Common Stock, par value $20, authorized 400,000 shares;
issued and outstanding 160,000 shares P3,200,000
Paid in Capital in excess of Par 160,000
Retained earnings 650,000
4,010,000
On August 1, 2017, the board of directors of Brother declared a 15% stock dividend on ordinary shares,
to be distributed on September 15th. The market price of Brother’s common stock was P35 on August 1, 2017,
and P38 on September 15, 2017. What is the amount of the debit to retained earnings as a result of the
declaration and distribution of this stock dividend?
A. 921,000
B. 600,000
C. 840,000
D. 800,000

56. Presented below is information related to Edis Corporation:

Common Stock, P1 par P4,300,000
Paid-in Capital in Excess of Par – Common Stock 550,000
Preferred 8 1/2 % Stock, P50 par 2,000,000
Paid-in Capital in Excess of Par – Preferred Stock 400,000
Retained Earnings 1,500,000
Treasury Common Stock (at cost) 150,000

The total stockholders’ equity of Edis Corporation is

A. 7,100,000
B. 7,250,000
C. 8,750,000
D. 8,600,000

57. On July 1, Brother Corporation had 200,000 shares of P10 par ordinary shares outstanding. The market
price of the stock was P12 per share. On the same date, Brother declared a 1-for-2 reverse stock split.
The par value of the stock was increased from P10 to P20, and one new P20 par share was issued for
each two P10 par shares outstanding. Immediately before the 1-for-2 reverse stock split, Brother’s
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 QUIZ IN SHAREHOLDERS’ EQUITY
additional capital was P650,000. What should be the balance in Brother’s additional paid-in capital
account immediately after the reverse stock split?
A. 450,000
B. 850,000
C. 650,000
D. 1,050,000

58. The Brother Corporation had the following classes of stock outstanding as of December 31, 2015:
Ordinary share, ₱20 par value, 20,000 shares outstanding Preferred stock, 6 percent, ₱100 par value,
cumulative, 2,000 shares outstanding No dividends were paid on preferred stock for 2013 and 2014. On
December 31, 2015, a total cash dividend of ₱200,000 was declared. What are the amounts of dividends
payable on preference shareholders?
A. P12,000
B. P36,000
C. P200,000
D. P24,000

59. Presented below is the equity section of Brother Corporation at December 31, 2016:
Share capital—ordinary, par value P20; authorized 75,000 shares;
issued and outstanding 45,000 shares 900,000
Share premium—ordinary 250,000
Retained earnings 500,000
1,650,000
During 2017, the following transactions occurred relating to equity:
 3,000 shares were reacquired at P28 per share.
 3,000 shares were reacquired at P35 per share.
 1,800 shares of treasury shares were sold at P30 per share.
For the year ended December 31, 2017, Brother reported net income of $450,000.

Assuming Brother accounts for treasury under the cost method, what should it report as total
equity on its December 31, 2017, statement of financial position?
A. 1,515,000
B. 1,961,400
C. 1,957,800
D. 1,965,000

60. Brother Co.'s stockholders’ equity at January 1, 2017 is as follows:

Common stock, P10 par value; authorized 300,000 shares;
Outstanding 225,000 shares P2,250,000
Paid-in Capital in excess of Par 900,000
Retained earnings 2,190,000
Total P5,340,000
During 2017, Brother had the following stock transactions:
Acquired 6,000 shares of its shares for P270,000.
Sold 3,600 treasury shares at P50 a share.
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 QUIZ IN SHAREHOLDERS’ EQUITY
Sold the remaining treasury shares at P41 per share.
No other share transactions occurred during 2017. Assuming Brother uses the cost method to record
treasury share transactions, the total amount of all additional stock paid-in capital accounts at December
31, 2017 is
A. 891,600
B. 870,000
C. 908,400
D. 927,600

61. On June 30, 2015, Brother Co. declared and issued a 10% stock dividend. Prior to this dividend, Brother
had 60,000 shares of P10 par value ordinary share issued and outstanding. The market value of Brother
Co.’s ordinary share om June 30,2015 was P24 per share. As a result of this stock dividend, by what
amount would Brother’s total stockholders’ equity increase (decrease)?
A. 84,000
B. 60,000
C. 0
D. (84,000)

Note: Incomplete questions (61 out of 65), other questions are repeated. Score in quiz: 58/65