Question

rt,  a $0.73 per share cash dividend was declared by the board of directors for it common stock. On 12/31, the date of declaration, there were 98,000 shares authorized, 59,000 shares issued, and 8,000 Treasury shares. On the date of the dividend declaration, what amount will Walmart record into their dividend account

Answer 1

$36,792

Step-by-step explanation:

Missing word "At Walmart, the board of directors declared a $0.73"

Outstanding stockholder = Issued stockholder - Treasury stock

Outstanding stockholder = 59,000 shares - 8,600 shares

Outstanding stockholder = 50,400 shares

Amount of Dividend = Declared per share cash dividend * Outstanding stockholder

Amount of Dividend = 50,400 shares * $0.73

Amount of Dividend = $36,792

So therefore, on the date of the dividend declaration, $36,792 shall be recorded by Walmart into their dividend account.