Your Corporation had 40,000 shares of $2par value common stock authorized 30,000shares issued and 20,000 sharesoutstanding, when the board of directors.declared a cash dividend of $3.50 pershare. What is the dollar amount of thecash dividend?

Cash dividend is the part of profit that is paid to shareholders of a company as a dividend for…

Answered: Your Corporation had 40,000 shares of…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 38MCQ

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Your Corporation had 40,000 shares of $2 par value common stock authorized 30,000 shares issued and 20,000 shares outstanding, when the board of directors declared a cash dividend of $3.50 per share. What is the dollar amount of the cash dividend?