The balance in retained earnings at December 31, 2020 was $1,440,000 and at December 31, 2021 was $1,164,000. Net income for 2021 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $220,000. A cash dividend was declared and paid.
The amount of the cash dividend was:
a. $496,000.
b. $556,000.
c. $776,000.
d. $1,276,000.
Answers: 2
Business, 22.06.2019 08:50
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The balance in retained earnings at December 31, 2020 was $1,440,000 and at December 31, 2021 was $1...
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