Homework Answers
Ans :
(a)
| Before Dividend | After Dividend | |
| Common stock | 1024000 (from question) |
1177600 (Note 1) |
| Retained Earnings (Note 2) | 410000 (from question) | 64400 (Not 2) |
| 1434000 | 1242000 |
| Note 1: | |||
| Common Stock | Amount | Shares | |
| Opening balance ($8 par) | 1024000 | 128000 | 1024000/8 |
| Add: Current year Dividend Stock issued (19200*8) | 153600 | 19200 | 15% stock dividend (19200) |
| Ending balance of common stock | 1177600 | 147200 |
| Note 2: | |
| Retailed Earnings | 410000 |
| Less: Dividend issued (19200*18) | 345600 |
| Balance retained Earnings | 64400 |
(b)
| Before Divdend | After Divdend | |
| Oustanding shares | 128000 | 147200 |
| 1024000/8 | Note 1, Shares |
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