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Consider the following assumed transactions of BedfordBedford Corporation. Each transaction is independent. a. Declaration of cash dividends of $82 million. b. Payment of the cash
Consider the following assumed transactions of
BedfordBedford
Corporation. Each transaction is independent.
a. | Declaration of cash dividends of $82 million. | |||||||||||
b. | Payment of the cash dividend in (a). | |||||||||||
c. | A 5% stock dividend. Before the dividend, 75 million shares of $1.00 par common stock were outstanding; the market value was $15.07 at the time of the dividend. | |||||||||||
d. | A 40% stock dividend. Before the dividend, 75 million shares of $1.00 par common stock were outstanding; the market value was $18.50 at the time of the dividend. | |||||||||||
e. | Purchase of 1,900 shares of treasury stock (par value $1.00) at $17.00 per share. | |||||||||||
f. | Sale of 200 shares of the treasury stock for $18.00 per share. Cost of the treasury stock was $17.00 per share. | |||||||||||
g. | A 3-for-1 stock split. Prior to the split, 75million shares of $1.00 par common stock were outstanding. Requirement
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