Question
A company declared a $2 dividend per share on its 50,000 outstanding shares. Calculate the total dividends paid, and the impact on the retained earnings
A company declared a $2 dividend per share on its 50,000 outstanding shares. Calculate the total dividends paid, and the impact on the retained earnings if the beginning balance of retained earnings was $300,000 and net income for the year was $120,000.
Description | Amount |
Total Dividends | |
Beginning Retained Earnings | $300,000 |
Net Income | $120,000 |
Ending Retained Earnings |
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
