On January 2,2014 the Board of Directors of Moorehaven Mining

question 8

Multiple Choice

On January 2,2014 the board of directors of Moorehaven Mining Corporation declared a cash dividend of $1,200,000 to stockholders of record on January 18,2014,and payable on February 10,2014.The dividend is permissible by law in Moorehaven's state of incorporation.Selected data from Moorehaven's December 31,2013,balance sheet follow:

The $1,200,000 dividend includes a liquidating dividend of

• A)$800,000.
• B)$700,000.
• C)$600,000.
• D)$200,000.

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