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Duke Corporation Reports the Following Components of Stockholders' Equity on December

question 122

Multiple Choice

Duke Corporation reports the following components of stockholders' equity on December 31, 2013: $\begin{array}{lr}\text { Common stock — } \$ 25 \text { par value, } 100,000 \text { shares authorized, 45,000 shares issued } & \$ 1,125,000 \\\text { and outstanding } \\\text { Paid-in capital in excess of par value, common stock } & 60,000\\\text { Retained earnings } & 460,000 \\\text { Total stockholders' equity }& \$ 1,645,000\end{array}$
$Duke Corporation reports the following components of stockholders' equity on December 31, 2013: \begin{array}{lr} \text { Common stock — } \$ 25 \text { par value, } 100,000 \text { shares authorized, 45,000 shares issued } & \$ 1,125,000 \\ \text { and outstanding } \\ \text { Paid-in capital in excess of par value, common stock } & 60,000\\ \text { Retained earnings } & 460,000 \\ \text { Total stockholders' equity }& \$ 1,645,000 \end{array} What is the amount in the Retained Earnings account immediately after the dividend on July 15? A) $264,750 B) $392,500 C) $460,000 D) $338,500 E) $470,000$ What is the amount in the Retained Earnings account immediately after the dividend on July 15?

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