On June 30, 2017, Texas, Inc

question 145

Multiple Choice

On June 30, 2017, Texas, Inc. showed the following data on the equity section of their balance sheet: On July 1, 2017, the company declared and distributed a 11% stock dividend. The market value of the stock at that time was $20 per share. As a result of this stock dividend, what is the balance of Retained Earnings?

• A) $768,060
• B) $952,000
• C) $983,220
• D) $617,800

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Definitions:

Sociological Insight

The ability to understand human behavior and societal structures through a sociological perspective, emphasizing the context and patterns that influence social interactions.

Successful

Achieving a desired goal or outcome, often marked by favorable or prosperous circumstances.

Hard Enough

A phrase indicating a task or challenge that presents a sufficient level of difficulty.

Lazy

A lack of willingness to work or use energy, often characterized by inactivity and a tendency to avoid effort.