RandomUser101
10.10.2019 •
Business
Mccaffrey corporation owned 15,000 shares of harper corporation's $5 par value common stock. these shares were purchased in 2015 for $326,000. on may 4, 2017, mccaffrey declared a property dividend of one share of harper for every twenty shares of mccaffrey stock held by a stockholder. on that date, when the market price of harper was $34 per share, there were 280,000 shares of mccaffrey outstanding. what net reduction in retained earnings would result from this property dividend?
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Ответ:
$304,267
Explanation:
Given:
Shares owned by McCaffrey Corporation = 15,000
Purchasing cost of in 2015 of shares = $326,000
market price of Harper = $34 per share
shares of McCaffrey outstanding = 280,000
Number of shares issued as property Dividend
=
= 14,000 shares.
Now,
Market price of shares issued as property Dividend
= 14000 × $34
= $476,000
also,
the Cost of 14000 shares of Harper corporation
=
= $304,267
Therefore,
The Net gain = $476,000 - $304,267
or
The net gain = $171,733
Property Dividend = $ 476,000
Hence,
the net reduction in retained earning
= $171,733 - $476,000
= $304,267
Ответ:
Q-P
Step-by-step explanation:Q in standard form is x^5+2x^4-2x^3-x^2-6 and if you subtract P (x^4+3x^3+2x^2-x+2) you get x^5+x^4-5x^3-3x^2+x-8