CGI Corporation Had 10,000 Shares of $2 Par Common Stock

question 30

Multiple Choice

CGI Corporation had 10,000 shares of $2 par common stock outstanding; the shares had been issued at $5 per share.At the end of March 2011, CGI declared a $3 cash dividend per share when the market price of the stock was $8 per share.After processing the dividend transaction, the balance in CGI's common stock account will be:

• A)$20,000.
• B)$30,000.
• C)$50,000.
• D)Some other amount.

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Definitions:

Protons

Positively charged particles found within an atom's nucleus.

Neutrons

Particles within an atom's nucleus that possess no electric charge and have a mass marginally higher than protons.

Crystalline Structure

A crystalline structure is a unique arrangement of atoms in a crystal, characterized by repeating patterns that extend in all three spatial dimensions.

Carbon Minerals

Minerals that contain carbon as a fundamental component, essential for the formation of life and organic compounds.