Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. wont capital corp declares a liquidating dividend

Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners...

80.2K

Verified Solution

Question

Accounting

Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners of record on June 30, 2009 in the amount of $100,000. Wont Capital states that $40,000 of the dividend is related to income, and the remaining $60,000 is a return of invested capital. By what amount does total retained earnings change as a result of the declaration the liquidating dividend?

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

Geometry
1.2K views

What is the area of triangle ABC Hint Area 1 2 Base x Height 60...

Programming
1.2K views

\"Today’s Attacks and Defenses at the beginning of this chapter illustrated how a security researcher could...

Psychology
1.2K views

Any thought, emotion, or behavior is influenced by numerous neural clusters and brain structures functioning together....

Psychology
1.2K views

The concepts of reliability and validity are very important when it comes to the testing of...

Psychology
1.2K views

A device that reads people's minds, do you think it would be a good thing if...

Accounting
1.2K views

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...

Biology
1.2K views

Which of the following does NOT happen during M phase Nuclear envelope breakdown Nuclear envelope...

Basic Math
1.2K views

Recently More Money 4U offered an annuity that pays 6 6 compounded monthly If 1...

Statistics
1.2K views

A college administrator claims that the proportion of students that are nursing majors is greater...

Algebra
1.2K views

5 Let X be the set of all different nine letter words that can be...

Accounting
1.2K views

Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead...

Accounting
1.2K views

HW 13 question 2 part b finding target price ...