Business, 15.07.2020 02:01 amichellecam2

Boxer Company owned 20,000 shares of King Company that were purchased in 2019 for $500,000. On May 1, 2021, Boxer declared a property dividend of 1 share of King for every 10 shares of Boxer stock. On that date, there were 50,000 shares of Boxer stock outstanding. The market Price of the King stock was $30 per share on the date of declaration and $32 per share on the date of distribution. By how much is retained earnings reduced by the property dividend

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Boxer Company owned 20,000 shares of King Company that were purchased in 2019 for $500,000. On May 1...

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