Problemlucid company declared a property dividend of 37000, Ask an Expert

Finance

Problem:

Lucid Company declared a property dividend of 37,000 shares of $1 par Polk Company common stock. The Polk stock was purchased for $2 per share. Market value was $9 per share on the declaration date and $10 per share on the distribution date.

Required:

Question: What is the amount of the dividend?

Note: Explain all steps comprehensively.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91175105

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