17) The following information is provided for Bold Company for the year 2019: • Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding Common stock, $100 par value, 2,000 shares issued and outstanding Dividends in arrears for three prior years (2016-2018) Total dividends declared and paid in 2019 were $50,000. 9,06% *s How much of the 2019 dividend payment was paid to the preferred stockholders assuming the preferred stock is cumulative? A) $3,000. B) $12,000. C) $38,000. D) $47,000. 18) The following information is provided for Bold Company for the year 2019: Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding • Common stock, $100 par value, 2,000 shares issued and outstanding • Dividends in arrears for three prior years (2016-2018) • Total dividends declared and paid in 2019 were $50,000. How much of the 2019 dividend payment was paid to the common stockholders assuming the preferred stock is noncumulative? A) $3,000. B) $38,000. $47,000. D) $12,000.

17) The following information is provided for Bold Company for the year 2019: • Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding Common stock, $100 par value, 2,000 shares issued and outstanding Dividends in arrears for three prior years (2016-2018) Total dividends declared and paid in 2019 were $50,000. 9,06% *s How much of the 2019 dividend payment was paid to the preferred stockholders assuming the preferred stock is cumulative? A) $3,000. B) $12,000. C) $38,000. D) $47,000. 18) The following information is provided for Bold Company for the year 2019: Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding • Common stock, $100 par value, 2,000 shares issued and outstanding • Dividends in arrears for three prior years (2016-2018) • Total dividends declared and paid in 2019 were $50,000. How much of the 2019 dividend payment was paid to the common stockholders assuming the preferred stock is noncumulative? A) $3,000. B) $38,000. $47,000. D) $12,000.

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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