Gonzalez company has 350000 shares of 10 par value common, Ask an Expert

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

a) $1,242,500.

b) $525,000.

c) $192,500.

d) $175,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M995755

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