Question
On October 1, Arcade Fire Enterprises reported stockholders' equity of $35,000. During October, no stock was issued and the company earned net income of $9,000.
On October 1, Arcade Fire Enterprises reported stockholders' equity of $35,000. During October, no stock was issued and the company earned net income of $9,000. If stockholders' equity at October 31 totals $39,000, what amount of dividends were paid during the month?
a). $0
b). $4,000
c).$5,000
d).$13,000
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
6th edition
1305103963, 978-1305548909, 1305548906, 978-1305103962
