Question
On January 1, 2021, the board of directors of Goby Inc. declared a $570,000 dividend. The following data is from the balance sheet of Goby
On January 1, 2021, the board of directors of Goby Inc. declared a $570,000 dividend. The following data is from the balance sheet of Goby on that date:
| Common stock | $ | 670,000 | |
| Paid-in capital—excess of par | 470,000 | ||
| Retained earnings | 413,000 | ||
| Paid-in capital—share repurchase | 67,000 | ||
How much is the liquidating dividend?
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
10th edition
1260481956, 1260310175, 978-1260481952
