MArble corporation had the following balances in its stockholders equity
accounts at December 31, 2010.
common stock, $10 par, 50,000 shares authorized, 20,000 shares issued...$200
,000
paid-in capital in excess of par value, common......250,000
retained eranings.......500,000
treausry stock, 1,000 shares........(20,000)
total stockholders equity..........$930,000
The following transactions occured during 2011:
February 3 - sold and issued 3,000 ahares of common stock for $22 per share
May10 - declared a $0.50 per share dividend on common stock
October - 12 Sold 500 shares of the treausury stock for $20 per share
December - 31 Net income for the year was determined to be $75,000
Based on the above information, prepare a statement of stockholders equity
for 2011.
I just don't understand about May 10 --declared a $ 0.50 per share dividend
on common stock.
The answer: dividend is 11000
my answer is 11500(=0.50 * 23000)
How to get 11000?
Thank you so much!
