ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
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Chapter 13, Problem 6Q
To determine

Explain the whether a charitable not for profit organization can undertake political activities.

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Vina Corp. has outstanding 12,000 shares of $40 par value, 6% non-participating cumulative preferred stock and 15,000 shares of $15 par value common stock. If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $90,000, then the total amounts distributed to preferred and common stockholders, respectively, are: a. $57,600 and $32,400 b. $86,400 and $3,600 c. $36,000 and $4,000 d. $64,800 and $5,200 e. None of the above.
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