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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
- 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.
- Record the journal entry on June 15 when the dividend is declared.
- Record the journal entry on June 30 when the dividend is paid.
- What would be the dividend per share on the common shares?
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