At the beginning of 2012, Flaherty Company had retained earnings of $250,000. During the year Flaherty reported net income of $100,000, sold treasury stock at a "gain" of $36,000, declared a cash dividend of $60,000, and declared and issued a small stock dividend of 3,000 shares ($10 par value) when the fair value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2013 was
a. 230,000
b. 260,000
c. 266,000
d. 296,000
Answer: a. 230,000
Business
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Sal, the office manager, requests a new laser printer so his assistant, Beth, can be more efficient at her job. After securing several quotes, Del, the purchasing manger, selects the best choice and passes the request on to his boss, Jim to approve the purchase. Identify the user in this scenario.
Beth Del Jim Sal
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Typically, if a bank were to sell a security in order to make a loan to a client, its NIM would:
a) increase b) decrease c) not change
Business