Pharoah Company has 496000 shares of $10 par value common stock outstanding. During the year Pharoah declared a 15% stock dividend when the market price of the stock was $34 per share. Three months later Pharoah declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $2529600. $491040. $2871840. $467600.
Pharoah Company has 496000 shares of $10 par value common stock outstanding. During the year Pharoah declared a 15% stock dividend when the market price of the stock was $34 per share. Three months later Pharoah declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $2529600. $491040. $2871840. $467600.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 4R: The following selected transactions and events occurred during 2013: a. Issued 200 shares of...
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