A company has 360,000 shares authorized, 120,000 shares issued, and 80,000 shares outstanding. It declares cash dividends of $1 per share. How much cash will the company pay for dividends? $80,000 $240,000 $120,000 $360,000 $40,000

A company has 360,000 shares authorized, 120,000 shares issued, and 80,000 shares outstanding. It declares cash dividends of $1 per share. How much cash will the company pay for dividends? $80,000 $240,000 $120,000 $360,000 $40,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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Question

A company has 360,000 shares authorized,
120,000 shares issued, and 80,000 shares
outstanding. It declares cash dividends of $1
per share. How much cash will the company
pay for dividends?
$80,000
$240,000
$120,000
$360,000
$40,000
Adjust
Draw

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