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3 years ago

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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?

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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