Multiple Choice
The Cameron Co.is paying a dividend of $.82 a share today.There are 120,000 shares outstanding with a par value of $1 per share.As a result of this dividend,the:
A) retained earnings will decrease by $120,000.
B) retained earnings will decrease by $98,400.
C) common stock account will decrease by $98,400.
D) common stock account will increase by $120,000.
E) capital in excess of par value account will decrease by $21,600.
Correct Answer:
Verified
Correct Answer:
Verified
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