Frugal Company has the following account balances (all are normal balances) at J

Question

Frugal Company has the following account balances (all are normal balances) at January 1. (All accounts are normal balances- read the whole list) Common stock, $2 par 150,000 shares authorized: 100,000 shares issued $200,000 Additional paid-in capital Retained earnings Treasury Stock (15,000 shares, Common) $ 160,000 S 400,000 s 76,000 By how much will liablities inorease on the date of deciaration? Frugal declares a $1 per share dividend on the common stook 0 a. $124,000 b, $100,000 O c. $85,000 O d$200,000 O e, $150,000

Explanation / Answer

Increase in liabilities = (100000-15000)*1 = $85000 Option C is correct

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.