The following information was extracted from the records of TAC Corporation at the end of the fiscal
Question:
The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed:
Required:
1. Prepare the stockholders’ equity section of the balance sheet at the end of the fiscal year.
2. Compute and evaluate the dividend yield ratio. Determine the number of shares of stock that received dividends.
Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2,000 shares) Net income Current stock price per share $680,000 163,000 16,000 75,000 (25,000) $ 30,000 $ 22.29
Step by Step Answer:
Req 1 Req 2 The dividend yield ratio is 224 16000 32000 ...View the full answer
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
Related Video
The dividend yield or dividend–price ratio of a share is the dividend per share, divided by the price per share. It is also a company\\\'s total annual dividend payments divided by its market capitalization, assuming the number of shares is constant. It is often expressed as a percentage.
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