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SammyCorporation owned20000shares of Oliver Corporation's$5 par value ordinary shares.Theseshares were purchasedin 2018 for$180000.On September152020 Sammy declared a propertydividend ofone share of Oliver for every tenshares
SammyCorporation owned20000shares of Oliver Corporation's$5 par value ordinary shares.Theseshares were purchasedin 2018 for$180000.On September152020
Sammy declared a propertydividend ofone share of Oliver for every tenshares of Sammy held by a shareholderOnthat date,when the market price of Oliverwas $14pershare there were 180,000 shares of Sammy
outstanding.What NETreduction in retained earnings would result from this property dividend?
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Principles Of Auditing: An International Perspective
Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen
1st Edition
0077095324, 978-0077095321
