Problems -
Benny's Bakery has paid $12000 of total dividends in the current year. No dividends have been paid for the prior 2 years.
Common Stock $15 par value, 20000 shares authorized, 10000 shares issued and outstanding. $150000
Preferred Stock $90 par value, 8%, non-cumulative, 2000 shares authorized, 600 shares issued and outstanding. $54000
How much of the current year dividend will go to Preferred Stockholders?
How much of the current year dividend will go to Common Stockholders?
How much is in arrears at the end of the current year?
Charlie's Cleaners paid total dividends in the current year of $80000. No dividends have been paid for the prior 4 years.
Common Stock $4 par value, 10000 shares authorized, 8000 shares issued and outstanding. $32000
Preferred Stock $80 par value, 0%, cumulative, 1000 shares authorized, 800 shares issued and outstanding. $64000
How much of the current year dividend will go to Preferred Stockholders?
How much of the current year dividend will go to Common Stockholders?
How much is in arrears at the end of the current year?