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The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 20 stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend) of stock outstanding. Market Value Balance Sheet $ 181,000 1,080,000 Cash Fixed assets Total $ +361 000 Debt Equity Total $ 353,800 907,200 $ 1.761.990

The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 20 stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend) of stock outstanding. Market Value Balance Sheet $ 181,000 1,080,000 Cash Fixed assets Total $ +361 000 Debt Equity Total $ 353,800 907,200 $ 1.761.990

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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The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 20 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 28,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 181,000 Fixed assets 1,080,000 Total 1,261,000 $ Ex-dividend price Debt Equity Total $ 353,800 907,200 1,261,000 $ What will the ex-dividend price be? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Transcribed Image Text:The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 20 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 28,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 181,000 Fixed assets 1,080,000 Total 1,261,000 $ Ex-dividend price Debt Equity Total $ 353,800 907,200 1,261,000 $ What will the ex-dividend price be? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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