ABC Inc had 10,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding 2021. Assuming that total dividends declared in 2021 were $80,000 and that the 2 points preferred stock is cumulative with two years' preferred dividends in arrears on December 31, 2020, the preferred & common stockholders should receive 2021 dividends totaling: $48000 $36000 $44000 $8000 $80,000

ABC Inc had 10,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding 2021. Assuming that total dividends declared in 2021 were $80,000 and that the 2 points preferred stock is cumulative with two years' preferred dividends in arrears on December 31, 2020, the preferred & common stockholders should receive 2021 dividends totaling: $48000 $36000 $44000 $8000 $80,000

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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