Your Corporation had 60,000 shares of $5par value common stock authorized,40,000 shares issued and 30,000 sharesoutstanding, when the board of directorsdeclared a cash dividend of $2.60 pershare. What is the dollar amount of thecash dividend?

Cash dividend is the amount of money paid by the entity in the form of return to the shareholders of…

Answered: Your Corporation had 60,000 shares of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

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Your Corporation had 60,000 shares of $5 par value common stock authorized, 40,000 shares issued and 30,000 shares outstanding, when the board of directors declared a cash dividend of $2.60 per share. What is the dollar amount of the cash dividend?