Hanson Company has 350,000 shares of P10 par value ordinary shares outstanding. During the year, Hanson declared a 10% share dividend when the market price of the stock was P30 per share. Four months later Hernandez declared a P.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by?

Hanson Company has 350,000 shares of P10 par value ordinary shares outstanding. During the year, Hanson declared a 10% share dividend when the market price of the stock was P30 per share. Four months later Hernandez declared a P.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter15: Dividend Policy

Section: Chapter Questions

Problem 5P

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