The charter of a corporation provides for the issuance of 94,546 shares of common stock. Assume that 41,432 shares were originally issued and 3,112 were subsequently reacquired. What isthe amount of cash dividends to be paid if a $2 per share dividend is declared?Oa. $3,112Ob. $41,432Oc. $76,640Od. $94,546

Dividend is paid on the shares outstanding. Shares outstanding = 41,432 - 3,112 = 38,320 shares

Answered: The charter of a corporation provides…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 12MC: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting...

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