Texas Inc. has 6,629 shares of 8%, $100 par value cumulative preferred stock and 84,120 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Ca. $6,629 in total Ob. $80.00 per share Oc. $53,032 in total Od. $6,730 in total

Texas Inc. has 6,629 shares of 8%, $100 par value cumulative preferred stock and 84,120 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Ca. $6,629 in total Ob. $80.00 per share Oc. $53,032 in total Od. $6,730 in total

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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Question

Texas Inc. has 6,629 shares of 8%, $100 par value cumulative preferred stock and 84,120 shares of $1 par value common stock outstanding at December 31. What is the
annual dividend on the preferred stock?
a. $6,629 in total
Ob. $80.00 per share
Oc. $53,032 in total
d. $6,730 in total

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