Problem
Instructions: Using the FASB Codification, provide information from the ASC that answers the following questions. Provide codification references for your responses.
I. At what percentage point can the issuance of additional shares still qualify as a stock dividend, as opposed to a stock split?
II. A company plans to issue shares and wants to know the SEC's stance on the accounting treatment for the costs of issuing stock. Can these costs be deferred, or must they be expensed immediately?
III. If a company chooses to purchase its own shares and then either (i) retires the repurchased shares and issues additional shares, or (ii) resells the repurchased shares, can a gain or loss be recognized by the company? Why or why not?