On June 30, 2018, Dakota, Inc. showed the following data on the equity section of their balance sheet:
On July 1, 2018, the company declared and distributed a 11% stock dividend. The market value of the stock at that time was $20 per share. As a result of this stock dividend, what is the balance of Retained Earnings?
A) $770,580
B) $951,000
C) $981,780
D) $621,200
D) $621,200
Explanation: Stock Dividend = 149,000 × $20 × 11% = $327,800
Balance in Retained Earnings = $949,000 - $327,800 = $621,200
You might also like to view...
The sufficiency of evidence refers to the quality of audit evidence.
Answer the following statement true (T) or false (F)
A taxpayer is able to change his filing status from married filing jointly to married filing separately by filing an amended return.
Answer the following statement true (T) or false (F)
The typical coverage area for a wireless LAN is 300 to 500 meters
Indicate whether the statement is true or false
Low-level coding in MRP indicates the exact status of each item managed by the system in "real time."
Answer the following statement true (T) or false (F)