Phil Graves Cemetery had 63,000 shares of common stock issued and outstanding at January 1, 2021. During 2021, Graves took the f

Question

2 years ago

6

Phil Graves Cemetery had 63,000 shares of common stock issued and outstanding at January 1, 2021. During 2021, Graves took the f

ollowing actions: June 1 Declared a 2-for-1 stock split, when the fair value of the stock was $38 per share. October 15 Declared a $0.50 per share cash dividend. In Graves's statement of shareholders' equity for 2021, what amount should Graves report as dividends

Business

1 answer:

Whitepunk [10] · Answer 1 · 2022-09-02T04:58:52+03:00

Answer:

Dividends for the year $63,000

Explanation:

Phil Graves Cemetery

Jan. 1 Shares issued and outstanding 63,000

June 1 2-for-1 stock split x 2

June 1 Shares issued and outstanding 126,000

Oct. 15 Cash dividend declared (per share)x $ .50

Dividends for the year $63,000

Therefore the amount that Graves should report as dividends is $63,000