Question
The Colonials Corporation has 8,500 shares of $30 par value common stock outstanding and retained earnings of $320,000. The company declares and pays cash dividend
The Colonials Corporation has 8,500 shares of $30 par value common stock outstanding and retained earnings of $320,000. The company declares and pays cash dividend of $3 per share. The debit to retained earnings is for what amount?
a) 765,000
b) 229,500
c) 25,500
d) 255,500
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Managerial Accounting Decision Making and Performance Management
Authors: Ray Proctor
4th edition
273764489, 978-0273764489
