Jim purchased 100 shares of stock this year and elected to participate in a dividend reinvestment program. This program automatically uses dividends to purchase additional shares of stock. This year Jim’s shares paid $350 of dividends and he used these funds to purchase shares of stock. These additional shares are worth $375 at year-end. What amount of dividends, if any, should Jim declare as income this year? Explain.
Needs help with similar assignment?
we are available 24x7 to deliver the best services and ready within 3-4 hours? Order a custom-written, plagiarism-free paper