Vangaurd Corporation's December 31, 2019 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 15,000 shares issued $ 300,000 Common stock, $10 par value, 2,000,000 shares authorized3; 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000 Paid-in capital in excess of par-preferred stock 60,000 Paid-in capital in excess of par-common stock 27,000,000 Retained earnings 7,500,000 Treasury stock (30,000 shares) 630,000 Vangaurd declared and paid a $96,000 cash dividend on December 15, 2019. If the company's dividends in arrears prior to that date were $20,000, Vangaurd's common stockholders received Select one: a. $44,000. b. $76,000. c. $0 d. $52,000

Vangaurd Corporation's December 31, 2019 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 15,000 shares issued $ 300,000 Common stock, $10 par value, 2,000,000 shares authorized3; 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000 Paid-in capital in excess of par-preferred stock 60,000 Paid-in capital in excess of par-common stock 27,000,000 Retained earnings 7,500,000 Treasury stock (30,000 shares) 630,000 Vangaurd declared and paid a $96,000 cash dividend on December 15, 2019. If the company's dividends in arrears prior to that date were $20,000, Vangaurd's common stockholders received Select one: a. $44,000. b. $76,000. c. $0 d. $52,000

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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