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Elan Coil [88]
3 years ago
14

on January 31,2009,Village Bank had 500000 shares of $2 par value common stock outstanding. On that date the company declared a

14% stock dividend when the market price of the stock was $37 per share. The immediate effect of this dividend upon Village Bank was?​
Business
1 answer:
slavikrds [6]3 years ago
3 0
A reduction in retained earnings of $2,950,000.

$37(500,000 x .14) = &2,590,000
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