Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its preferred and common stock: Preferred stock, $30 par, 12% cumulative; 300,000 shares authorized; 150,000 shares issued and outstanding Common stock, $2 par; 2,500,000 shares authorized; 1,200,000 shares issued; 1,000,000 outstanding As of December 31, 2019, Lemon was 3 years in arrears on its dividends. During 2020, Lemon declared and paid dividends. As a result, the common stockholders received dividends of $0.45 per share. Required: 1. What was the total amount of dividends declared and paid during 2020? ) Total dividends declared and paid $ 2. During 2020, what journal entry was made at the date of declaration? (Record liability for dividends)
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Ответ:
$54,000
Explanation:
If we Consider two cars manufactured by Chevrolet in 2007.
That would be output to be considered in Gross Domestic Product calculation, irrespective of whether they are sold or not.
Since the first one of the two cars had a value for $24,000.
and The second automobile, with a market value of $30,000,
The transactions just described contribute $54,000 (which is a summation of the total output of both cars) to GDP for 2007.