At the beginning of 2011, Flaherty Company had retained earnings of $200,000. During the year Flaherty reported
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At the beginning of 2011, Flaherty Company had retained earnings of $200,000. During the year Flaherty reported net income of $100,000, sold treasury stock at a “gain” of $36,000, declared a cash dividend of $60,000, and declared and issued a small stock dividend of 3,000 shares ($10 par value) when the market value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2011 was
a. $180,000.
b. $210,000.
c. $216,000.
d. $246,000.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For 
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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