Dividend payment procedures At the quarterly dividend meeting, Wood Shoes declared a cash dividend of $128 per share for holders of record on Monday, July 10 The firm has 300,000 shares of common stock outstanding and has set a payment date of July 31 Prior to the dividend declaration, the firm's key accounts were as follows Cash $500,000 Dividends payable S 0 Retained earnings 2.700,000 a. Show the entries after the meeting adjourned. b. When is the ex-dividend date? c. What values would the key accounts have after the July 31 payment date? d. What effect, if any, will the dividend have on the firm's total assets? e. Ignoring general market fluctuations, what effect, if any, will the dividend have on the firm's stock price on the ex-dividend date? a. Show the entries after the meeting adjourned (Round to the nearest dollar) Cash Dividends payable Retained earnings incorrect: T pield) HW Score: 70%, 7 of 10 pts X P14-1 (similar to) Question Help Dividend payment procedures At the quarterly dividend meeting, Wood Shoes declared a cash dividend of $1 28 per share for holders of record on Monday, July 10 The firm has 300,000 shares of common stock outstanding and has set a payment date of July 31. Prior to the dividend declaration, the firm's key accounts were as follows: Cash $500.000 Dividends payable $ 0 Retained earnings 2,700,000 a. Show the entries after the meeting journed b. When is the ex-dividend date? c. Whal values would the key accounts have alter the July 31 payment date? d. What otect any, will the dividend have on the firm's total assets? e. Ignoring general market fluctuations, what effect, if any, will the dividend have on the firm's stock price on the ex dividend date? a. Show the entries after the meeting adjourned (Round to the nearest dollar) Cash Su Dividends payable Retained earnings Incorrect 3