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Sonbull [250]
3 years ago
9

Randall's has 28,000 shares of stock outstanding with a par value of $1 per share. The market value is $13 per share. The balanc

e sheet shows $152,000 in the capital in excess of par account, $34,000 in the common stock account, and $92,800 in the retained earnings account. The firm just announced a 15 percent (small) stock dividend. What will be the balance in the retained earnings account after the dividend
Business
1 answer:
a_sh-v [17]3 years ago
3 0

Answer: $38,200

Explanation:

There are 28,000 Outstanding shares with a $13 market value.

That means that in total they are valued at,

= 28,000 * 13

= $364,000

The firm announced a 15% dividend so we take 15% of the total amount.

= 15% * 364,000

= $54,600

$54,600 is the total amount they will pay as dividends.

Dividends are taken from the Retained Earnings meaning that the balance in Retained earnings is therefore,

= $92,800 - $54,600

= $38,200

$38,200 will be the balance in the retained earnings account after the dividend.

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3 years ago
Read 2 more answers
On January​ 2, 2019, Kaiman Corporation acquired equipment for​ $700,000. The estimated life of the equipment is 5 years or​ 80,
disa [49]

Answer:

$272,000

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($700,000 - $20,000) / 5 = $136,000

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I hope my answer helps you

8 0
2 years ago
You plan to make a series of deposits in an interest-bearing account. You will deposit $1,000 today, $2,000 in 2 years, and $8,0
solniwko [45]

Answer:

$5,641

Explanation:

DEPOSIT NOW  

$1000 * FVIF 9%,8 PERIODS

= $1000 * 1.9926

= $1992.6

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IN 7 YEARS

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= ($5000) * 1.0900

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Total value = $5,641

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Incident managers begin planning for the demobilization process when:
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