Four months later hernandez declared a .50 per share cash, Ask an Expert

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Hernandez Company has 350,000 shares of $10 par value common stock outstanding. During the year, Hernandez declared a 10% stock dividend when the market price of the stock was $30 per share. Four months later Hernandez declared a $.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9446921

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