Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below.) The following information was extracted from the records of TAC Corporation at the end

image text in transcribed

Required information [The following information applies to the questions displayed below.) The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed: Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2,000 shares) $ 680,000 163,000 16,000 75,000 (25,000) Net income for the year was $30,000. The stock price is currently $22.29 per share. 2-a. Compute the dividend yield ratio. (Enter your answer as a percentage rounded to 2 decimal places (.e. 0.1234 should be entered as 12.34).) Dividend yield ratio % 2-b. Determine the number of shares of stock that received dividends. Number of shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sustainability Accounting And Accountability

Authors: Matias Laine, Helen Tregidga, Jeffrey Unerman

3rd Edition

1032023104, 9781032023106

More Books

Students also viewed these Accounting questions

Question

What is the difference between an agency fund and a trust fund?

Answered: 1 week ago

Question

4 What is the recruitment phase?

Answered: 1 week ago