The balance sheet of Tampa Company included the following shareholders' equity accounts at December 31,2021$240,000Common stock,240,000 shares at $1parPaid-in captalexcoss of parRetained eamingsTotal shareholder' equity060,0003,800,000$5.000,000During 2022, the following transactions occurred1 On May 3, 2022, a 5-for-4 stock split was declared and distributed. The stock spit was effected in the form of a 25% stock dividend. The market value of the $1 par common stock was$10 per share,2. On July 5, 2022, a 5% common stock dividend was declared and distributed. The markel value of the common stock was $13 per share.3. On December 1, 2022, the board of directors declared a cash dividend of $0.8 per share on its common shares, payable on December 28 to sharehoidersDetermine the amount of cash dividend paid to shareholders on December 28, 2022O $240,000O $252,000O $201,600O $192.000

A cash dividend is declared and paid on the number of shares outstanding on the date of dividend…

The balance sheet of Tampa Company included the following shareholders quity accounts at December 31, 2021 Common stock,240,000 shares at $1 par Pad-in captalexcess of par Retaned eamings Total shareholder equity $240,000 000,000 3,800,000 $5.000 000 During 2022, the following transactions ocourred I On May 3, 2022, a 5-for-4 stock spit was declared and distributed. The stock split was eftected in the form of a 20% stock dividend. The market value of te S1 par common stock was $10 per share 2. On July 5, 2022, a 5% common stock dividend was declared and distributed. The markel value of the common stock was $13 per share 3. On December 1, 2022, the board of directors declared a cash dividend of $0.8 per share on its common shares, payable on December 26 to sharehoiders Determine the amount of cash dividend paid to shareholders on December 20, 2022 O $240,000 O $252,000 O $201,600 O $192.000

The balance sheet of Tampa Company included the following shareholders quity accounts at December 31, 2021 Common stock,240,000 shares at $1 par Pad-in captalexcess of par Retaned eamings Total shareholder equity $240,000 000,000 3,800,000 $5.000 000 During 2022, the following transactions ocourred I On May 3, 2022, a 5-for-4 stock spit was declared and distributed. The stock split was eftected in the form of a 20% stock dividend. The market value of te S1 par common stock was $10 per share 2. On July 5, 2022, a 5% common stock dividend was declared and distributed. The markel value of the common stock was $13 per share 3. On December 1, 2022, the board of directors declared a cash dividend of $0.8 per share on its common shares, payable on December 26 to sharehoiders Determine the amount of cash dividend paid to shareholders on December 20, 2022 O $240,000 O $252,000 O $201,600 O $192.000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 1MC: Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter...

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