Crane Company has 514000 shares of $10 par value common stock outstanding. During the year Crane declared a 15% stock dividend when the market price of the stock was $36 per share. Three months later Crane declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $3130260. $484600. $2775600. $508860.
Crane Company has 514000 shares of $10 par value common stock outstanding. During the year Crane declared a 15% stock dividend when the market price of the stock was $36 per share. Three months later Crane declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $3130260. $484600. $2775600. $508860.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 4R: The following selected transactions and events occurred during 2013: a. Issued 200 shares of...
Related questions
Question
![Crane Company has 514000 shares of $10 par value common stock outstanding. During the year Crane declared a 15%
stock dividend when the market price of the stock was $36 per share. Three months later Crane declared a $0.60 per share
cash dividend. As a result of the dividends declared during the year, retained earnings decreased by
$3130260.
$484600.
$2775600.
$508860.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa0c4af4e-7701-49cb-85f8-b13eecf8d2c1%2F0c7b73f4-b77c-443e-9d8b-a52eff1a90d1%2Fwqzb64g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Crane Company has 514000 shares of $10 par value common stock outstanding. During the year Crane declared a 15%
stock dividend when the market price of the stock was $36 per share. Three months later Crane declared a $0.60 per share
cash dividend. As a result of the dividends declared during the year, retained earnings decreased by
$3130260.
$484600.
$2775600.
$508860.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College