On January 1, 2023, when the market value of its common shares was $15 per share,...
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On January 1, 2023, when the market value of its common shares was $15 per share, Cullumber Inc. declared a 10% common stock dividend. Shareholders' equity before the stock dividend was declared was: Common shares, no par value, authorized 296000 shares. issued and outstanding 191000 shares Retained earnings Total shareholders' equity $2120000 2559000 $4679000 What was the effect on Cullumber's retained earnings as a result of the stock dividend? On January 1, 2023, when the market value of its common shares was $15 per share, Cullumber Inc. declared a 10% common stock dividend. Shareholders' equity before the stock dividend was declared was: Common shares, no par value, authorized 296000 shares. issued and outstanding 191000 shares Retained earnings Total shareholders' equity $2120000 2559000 $4679000 What was the effect on Cullumber's retained earnings as a result of the stock dividend?
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Answer i Given that Per share value 15 Common stock dividend 10 ii Issued and outsta... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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