The charter of a corporation provides for the issuance of 108,244 shares of common stock. Assume that 44,779 shares were originally issued and 4,084 weresubsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?a. $4,084b. $44,779c. $108,244d. $81,390

Originally issued shares = 44,779 shares (-) Reacquired shares = 4,084 shares Total dividend to be…

Answered: The charter of a corporation provides…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 11GI

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The charter of a corporation provides for the issuance of 108,244 shares of common stock. Assume that 44,779 shares were originally issued and 4,084 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?