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What is the new ending balances of common stock

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Question - On December 31, 2020, Blue Devil Inc. has a ending balance of total shareholders' equity of $2,490,000, including common stock of $1,000,000 and retained earnings of $1,490,000. The board of director decided to issue some dividends to the shareholders.

a. If Blue Devil issued $340,000 of cash dividends, then what is the new ending balances of common stock and retained earnings, respectively? What is the impact on the balance of total assets?

b. If Blue Devil issued $340,000 of stock dividends, then what is the new ending balances of common stock and retained earnings, respectively? What is the impact on the balance of total assets?

Reference no: EM132961023

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