C9. Adams and Apple Corporation had issued 70% of its total authorized shares of 450,000 at P25 par value. Before closing the month of February 2022, the Board of Directors decided to repurchased 20% of its outstanding shares to protect the majority shareholders. On March 15, The Board decided to declare a P5.00 per share cash dividend. The market price per share during the date of declaration was P30. At the date of payment, May 31, 2022, the stock is selling at P35 per share and on April 15, the date of record, the price of the share was P32.00 per share. How much is the cash dividends paid on May 31? a. P1,260,000 b. Not given c. 1,800,000 Od. P990,000 o P1575.000

C9. Adams and Apple Corporation had issued 70% of its total authorized shares of 450,000 at P25 par value. Before closing the month of February 2022, the Board of Directors decided to repurchased 20% of its outstanding shares to protect the majority shareholders. On March 15, The Board decided to declare a P5.00 per share cash dividend. The market price per share during the date of declaration was P30. At the date of payment, May 31, 2022, the stock is selling at P35 per share and on April 15, the date of record, the price of the share was P32.00 per share. How much is the cash dividends paid on May 31? a. P1,260,000 b. Not given c. 1,800,000 Od. P990,000 o P1575.000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...

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