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8 DOC INT ACCT QUIZ 1

# 8 DOC INT ACCT QUIZ 1 - 5 Question(TCO F Written Inc has...

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4. Question: (TCO F) Anders, Inc., has 5,000 shares of 5%, \$100 par value, cumulative preferred stock and 20,000 shares of \$1 par value common stock outstanding at December 31, 2011. There were no dividends declared in 2009. The board of directors declares and pays a \$45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011? Your Answer: \$15,000 CORRECT \$25,000 \$45,000 \$0 Instructor Explanation: 5,000 X \$100 X .05 = \$25,000 (\$45,000 X 2) - (\$25,000 X 3) = \$15,000. Chapter 15. Points Received: 4 of 4 Comments:
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Unformatted text preview: 5. Question: (TCO F) Written, Inc. has outstanding 300,000 shares of \$2 par common stock and 60,000 shares of no-par 8% preferred stock with a stated 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 \$183,000 will be distributed, and the preferred stock is also participating, how much will the common stockholders receive? Your Answer: \$111,000. \$90,000. CORRECT ANSWER \$93,000. \$48,000. Instructor Explanation: Chapter 15....
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