Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding par value, 4,000 shares authorized, issued, Common stock-$ and outstanding Retained earnings Total stockholders' equity $ 55,000 120,000 350,000 $ 525,000 4. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $21.550. what total amount will be paid to the preferred and to the common shareholders?
Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding par value, 4,000 shares authorized, issued, Common stock-$ and outstanding Retained earnings Total stockholders' equity $ 55,000 120,000 350,000 $ 525,000 4. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $21.550. what total amount will be paid to the preferred and to the common shareholders?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject:- accounting
Transcribed Image Text:Raphael Corporation's balance sheet shows the following stockholders' equity section
Preferred stock-5% cumulative, $ par value, 1,000 shares
authorized, issued, and outstanding
Common stock-$ par value, 4,000 shares authorized, issued,
and outstanding
Retained earnings
Total stockholders' equity
$ 55,000
Total amount paid to the preferred shareholders
Total amount paid to the common shareholders
120.000
350,000
$ 525,000
4. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $21.550,
what total amount will be paid to the preferred and to the common shareholders?
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