Hernandez company has 350000 shares of 10 par value common, 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:

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.:- M961364

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