The charter of a corporation provides for the issuance of 95,106 shares of common stock. Assume that 36,768 shares were originally issued and 3,554 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3 per share dividend is declared? a. $285,318 b. $99,642 Oc. $10,662 d. $110,304

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The charter of a corporation provides for the issuance of 95,106 shares of common stock. Assume that 36,768 shares were originally issued and 3,554 were subsequently
reacquired. What is the amount of cash dividends to be paid if a $3 per share dividend is declared?
a. $285,318
b. $99,642
c. $10,662
d. $110,304
Transcribed Image Text:The charter of a corporation provides for the issuance of 95,106 shares of common stock. Assume that 36,768 shares were originally issued and 3,554 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3 per share dividend is declared? a. $285,318 b. $99,642 c. $10,662 d. $110,304
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