A company has 588,000 shares of $10 par value common stock outstanding. During the year, the company declared a 13% stock dividend when the market price of the stock was $30 per share. As a result of the dividend declared during the year, retained earnings decreased by (if r/e is not affected, then enter 0):

A company has 588,000 shares of $10 par value common stock outstanding. During the year, the company declared a 13% stock dividend when the market price of the stock was $30 per share. As a result of the dividend declared during the year, retained earnings decreased by (if r/e is not affected, then enter 0):

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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