Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer the following :) use the following

please answer the following :) Use the following Information for the next 2 Items...

90.2K

Verified Solution

Question

Accounting

image please answer the following :)
Use the following Information for the next 2 Items On February 20th, Golden Arch Company declared a $1.5 dividend per share on its 1,000,000 shares of common stock. The dividend is payable on March 15th to shareholders of record March 2nd. The dividend announcement stated that $350,000 should be considered a return of capital and the rest as distribution of income. D Question 28 3 pts What is the dollar amount of the change in Golden Arch's Retained earnings account as a result of announcing and paying the dividend? D Question 29 2.5 pts What is the effect of announcing and paying the dividend on Golden Arch's i) total assets, and ii) common stock account? Oi) decrease, i) decrease O i) decrease, ii) no change i) no change, il) decrease i) no change. ii) no change

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students