Ducheyne Electric Recently Declared a 15 Percent Stock Dividend

question 31

Multiple Choice

Ducheyne Electric recently declared a 15 percent stock dividend.On the date of the stock dividend Ducheyne had 16 million shares outstanding priced at $46 per share in the market.An accounting entry was required on the balance sheet transferring some retained earnings to the common stock account.If retained earnings was $280 million prior
To the transaction, what was the dollar amount of retained earnings after the transfer?

• A)$280.0 million
• B)$110.4 million
• C)$234.0 million
• D)$277.6 million
• E)$169.6 million

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Definitions:

Neuralgia

Neuralgia is a sharp, shocking pain that follows the path of a nerve and is due to irritation or damage to the nerve.

Severe Pain

A high intensity, distressing sensation of physical discomfort or suffering that significantly affects an individual's quality of life.

Involved Nerve

Refers to a nerve that is affected by or is contributing to a specific medical condition or injury.

Lumbar Puncture

The insertion of a needle between the vertebrae in the lumbar area for the purpose of withdrawing spinal fluid.