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Current Attempt in Progress Cullumber Company reported retained earnings at December 31, 2021, of $300.500, Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. A cash dividend of $0.35 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price pyshare was $14 pen share. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings eTextbook and Media Save for Later Attempts: unlimited Submit Answer

Current Attempt in Progress Cullumber Company reported retained earnings at December 31, 2021, of $300.500, Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. A cash dividend of $0.35 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price pyshare was $14 pen share. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings eTextbook and Media Save for Later Attempts: unlimited Submit Answer

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Cullumber Company reported retained earnings at December 31, 2021, of $300.500, Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. A cash dividend of $0.35 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price pyshare was $14 pen share. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings eTextbook and Media Save for Later Attempts: unlimited Submit Answer
Transcribed Image Text:Current Attempt in Progress Cullumber Company reported retained earnings at December 31, 2021, of $300.500, Cullumber had 194,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. A cash dividend of $0.35 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price pyshare was $14 pen share. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings eTextbook and Media Save for Later Attempts: unlimited Submit Answer
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