On March 31, 2018, Arndt declared a 15\% stock dividend, and accordingly 1,350 additional shares...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On March 31, 2018, Arndt declared a 15\% stock dividend, and accordingly 1,350 additional shares were issued, when the fair value of the stock was $20 per share. For the three months ended March 31, 2018, Arndt recorded a net income of $40,000. The balance of Arndt's retained earnings as of March 31, 2018, should be a. $194,000. b. $154,800. c. $127,000. d. $207,000
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!
