The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume that 44,000shares were originally issued and 4,000 were subsequently reacquired. What is the amount of cash dividends tobe paid if a $1-per-share dividend is declared?Oa. $120.000Ob, $40.000Oc. $44,000Od. $4.000

Formula: Total dividends = Number of Outstanding shares x Dividend per share

Answered: The charter of a corporation provides…

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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