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A company had the following: • Common Stock: 100,000 shares authorized, 90,000 shares issued, and 6,000 shares in treasury stock • Preferred Stock: 20,000 shares of 6%, $20 par value authorized, 5,000 shares issued, no shares of treasury stock On May 10 the Board of Directors declares and paid the preferred dividends and a $0.25 per share common stock dividends.

A company had the following: • Common Stock: 100,000 shares authorized, 90,000 shares issued, and 6,000 shares in treasury stock • Preferred Stock: 20,000 shares of 6%, $20 par value authorized, 5,000 shares issued, no shares of treasury stock On May 10 the Board of Directors declares and paid the preferred dividends and a $0.25 per share common stock dividends.

FINANCIAL ACCOUNTING
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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A company had the following: • Common Stock: 100,000 shares authorized, 90,000 shares issued, and 6,000 shares in treasury stock • Preferred Stock: 20,000 shares of 6%, $20 par value authorized, 5,000 shares issued, no shares of treasury stock On May 10 the Board of Directors declares and paid the preferred dividends and a $0.25 per share common stock dividends. 1. Compute total dividends that will be paid to the common stockholders and enter the amount is the box 2. Compute total dividends that will be paid to the preferred stockholders and enter the amount is the box Do not use $ in your answers. Do use commas.
Transcribed Image Text:A company had the following: • Common Stock: 100,000 shares authorized, 90,000 shares issued, and 6,000 shares in treasury stock • Preferred Stock: 20,000 shares of 6%, $20 par value authorized, 5,000 shares issued, no shares of treasury stock On May 10 the Board of Directors declares and paid the preferred dividends and a $0.25 per share common stock dividends. 1. Compute total dividends that will be paid to the common stockholders and enter the amount is the box 2. Compute total dividends that will be paid to the preferred stockholders and enter the amount is the box Do not use $ in your answers. Do use commas.
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