10. Bodkin, Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2016, and December 31, 2017. The board of directors declared and paid a $25,000 dividend in 2016. In 2017, $65,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2017? Preferred a $25,000 b. $35,000 C. $32,500 d. $30,000 Common $40,000 $30,000 $32,500 $35,000

10. Bodkin, Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2016, and December 31, 2017. The board of directors declared and paid a $25,000 dividend in 2016. In 2017, $65,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2017? Preferred a $25,000 b. $35,000 C. $32,500 d. $30,000 Common $40,000 $30,000 $32,500 $35,000

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Description: 10. Bodkin, Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par valuecommon stock outstanding at December 31, 2016, and December 31, 2017, The board of directors declared and paida $25,000 dividend in

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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