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rockyroad19
06.05.2020 •
Business
Written, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of 6% preferred stock with a par value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $225,000 is distributed as a dividend in the current year, how much will the common stockholders receive?
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Ответ:
$117,000
Explanation:
The computation of the common stockholder received is shown below:
But before that first we have to find out the preference dividend which is
Preferred Stock capital 600,000
Multiply the Rate of preferred dividend 6%
Annual preferred Dividend (600,000 × 6%) $36,000
Cumulative Preferred dividend $72,000 ($36,000 × 2 years)
Since past two years is given so we take the 2 years
Now
Total Amount of dividend paid $225,000
Less: Total preferred dividend
cumulative dividend arrears -$72,000
Current year preferred dividend -$36,000
Amount of Common Stock dividend received $117,000
Ответ:
what class are you looking answers for