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  3. abc company had the following transactions and eve

ABC Company had the following transactions and events related to its $1 par common stock...

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Accounting

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ABC Company had the following transactions and events related to its $1 par common stock during the 20XX business year: 1. On January 1st, the board of directors authorized the issuance of 1,000,000 shares of $1 par common stock 2. On January 2nd, ABC Company issued 250,000 shares of previously apthorized $1 par common stock. 3. On April 1st, ABC Company repurchased 150,000 shares of previously issued $1 par common stock. 4. On July 1st, ABC Company resold 100,000 shares of its own $1 par common stock from its treasury. 5. On October 1st, ABC Company issued another 300,000 shares of previously authorized $1 par common stock, On December 1st, ABC Company declared a $.50 per share cash dividend on it's outstanding common shares. What total amount of cash dividends would ABC Company have to create a liability for at the time of this declaration? $100,000 $250,000 $275,000 $400,000

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