Jay-Cee Corporation had 20,000 shares of $4 par value common stock outstanding on January 1. On...

 

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Jay-Cee Corporation had 20,000 shares of $4 par value common stock outstanding on January 1. On January 20, the company purchased 2,000 of its stock for $16 per share. On July 3, the company reissued 1,000 of the shares at $20 per share. Jay-Cee uses the cost method to account for its treasury stock. Assume the company paid a dividend of $5 per share on August 3. What is the total amount of the dividends that would be paid to the common stockholders? 0000 O $95.000 O $100,000 $90,000 O$76,000 Jay-Cee Corporation had 20,000 shares of $4 par value common stock outstanding on January 1. On January 20, the company purchased 2,000 of its stock for $16 per share. On July 3, the company reissued 1,000 of the shares at $20 per share. Jay-Cee uses the cost method to account for its treasury stock. Assume the company paid a dividend of $5 per share on August 3. What is the total amount of the dividends that would be paid to the common stockholders? 0000 O $95.000 O $100,000 $90,000 O$76,000

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Calculation of shares outstanding on Aug03 Ref Dat... View the full answer