At December 31, 2015 and 2016, Plank Corp. had outstanding 2,000 shares of $100 par value 8% cumulative preference shares and 10,000 shares of s10 par value ordinary shares. At December 31, 2015, dividends in arrears on the preference shares were $8,000. Cash dividends declared in 2016 totaled $30,000. What amounts were payable on each class of stock? Preference Shares Ordinary Shares $16,000 $14,000 $22,000 $8,000 S24,000 $6,000 $30,000 $0

At December 31, 2015 and 2016, Plank Corp. had outstanding 2,000 shares of $100 par value 8% cumulative preference shares and 10,000 shares of s10 par value ordinary shares. At December 31, 2015, dividends in arrears on the preference shares were $8,000. Cash dividends declared in 2016 totaled $30,000. What amounts were payable on each class of stock? Preference Shares Ordinary Shares $16,000 $14,000 $22,000 $8,000 S24,000 $6,000 $30,000 $0

Name: At December 31, 2015 and 2016, Plank Corp. had outstanding 2,000 shar
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Description: At December 31, 2015 and 2016, Plank Corp. had outstanding 2,000 shares of $100 par value 8% cumulative preference shares and 10,000 shares ofs10 par value ordinary shares. At December 31, 2015, dividends in arrears on the preference shares were $8,

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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