Question
On January 1, Rygel Corporation had 40,000 shares of $15 par common stock outstanding. On February 1, when its stock was trading for $46 per
On January 1, Rygel Corporation had 40,000 shares of $15 par common stock outstanding. On February 1, when its stock was trading for $46 per share, Rygel corporation declared a 50% stock dividend. What was the impact of the 50% stock dividend on the balance of the retained earnings account?
Correct answer is $300,000 decrease
can you please explain me how?
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Using QuickBooks Online For Accounting 2022
Authors: Glenn Owen
5th Edition
0357516532, 9780357516539
