On March 1, Boxer Company purchased 20,000 shares of King Co. stock for $25 per share. On
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On March 1, Boxer Company purchased 20,000 shares of King Co. stock for $25 per share. On May 1, Boxer decalred a property dividend of 5,000 shares of King Co. The market value of the King stock was $30 per share on the date of declaration and $32 per share on the date of distribution. When recording the property dividend, bby how much is retained earnings reduced?
$0
$125,000
$150,000
$160,000
Related Book For
Financial And Managerial Accounting The Basis For Business Decisions
ISBN: 9781260247930
19th Edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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