Reference no: EM132966772
Question - At the quarterly dividend? meeting, Wood Shoes declared a cash dividend of ?$1.09 per share for holders of record on? Monday, July 10. The firm has 300,000 shares of common stock outstanding and has set a payment date of July 31. Prior to the dividend? declaration, the? firm's key accounts were as? follows:
Dividend payment procedures $500,000
Dividends payable ?$0
Retained earnings ?$2,600,000
Required -
a. Show the entries after the meeting adjourned.
b. When is the ?ex-dividend ?date?
c. What values would the key accounts have after the July 31 payment? date?
d. What? effect, if? any, will the dividend have on the? firm's total? assets?
e. In a perfect market?, what? effect, if? any, will the dividend have on the? firm's stock price on the? ex-dividend date?
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