At the End of 2014, Washington Corporation Reported a $40,000

question 60

Essay

At the end of 2014, Washington Corporation reported a $40,000 balance in its common stock account (par value $1 per share). The treasury stock account balance was $720 (cost $6 per share). During 2014, the company declared and paid a cash dividend of $1.50 per share.
Required:
Calculate the total amount of the 2014 cash dividend.

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Definitions:

Constructive Eviction

An eviction that occurs by the act of the landlord depriving the tenant of something of a substantial nature that was called for under the lease.

Tenants in Coverture

Refers to a legal doctrine whereby upon marriage, a woman's legal rights and obligations were subsumed by those of her husband, an outdated concept not widely practiced today.

Undivided Share

Refers to an ownership interest in property where each owner holds an equal right to the entire property rather than a specific identifiable part.