Solved: On january 1 2011 the board of directors of goby inc, Accounting Basics

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On january 1 2011 the board of directors of goby inc

Question - On January 1, 2011, the board of directors of Goby Inc. declared a $540,000 dividend. The following data are from the balance sheet of Goby on that date:

Common stock $500,00

Paid in capital- excess of par 300,000

Retain earnings 400,000

Paid in capital from sale of treasury stock 50,000

How much is the liquidating dividend?

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Accounting Basics: On january 1 2011 the board of directors of goby inc

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