1. Cash dividends of $50,000 were declared during the year. Cash dividends payable were $10,000 and $5,000...
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1. Cash dividends of $50,000 were declared during the year. Cash dividends payable were $10,000 and $5,000 at the beginning and end of the year, respectively.
What is the amount of cash for dividend payments during the year ?
2. A company with 81,210 authorized shares of $7 par common shares issued 47,603 shares at $12 per share. The company subsequently declared a 2% stock dividend on a date when the market price was $22 per share.
What is the amount transferred from the retained earnings account to the paid-in capital accounts as a result of the stock dividend?
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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