What would be the dividend per share on the common shares

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Question - TD Bank has 910,000,000 shares outstanding and pays a quarterly dividend of $0.72 per share. Assume you own 500 shares.

1. Record the journal entry for TD Bank on April 1 when the dividend is declared.

2. How much would you receive if you choose to receive the dividends on your 500 shares in cash?

3. Marinelli Corporation has $50,000 to pay out in dividends. On June 15 they declare a $1.50 per share dividend on their 16,000 preferred shares and the remainder will be paid out to their 52,000 common shares.

4. Record the journal entry on June 15 when the dividend is declared.

5. Record the journal entry on June 30 when the dividend is paid.

6. What would be the dividend per share on the common shares?

Reference no: EM133079325

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