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Home Q & A Board Other Fields Homework Help Business Accounting
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rogers rogers
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5 years ago
Betta Corp. has 70,000 shares of $3 par common stock and 25,000 shares of $18 par fully participating 7% cumulative preferred stock. The company declares cash dividends of $90,000 during the current year and there are $8000 dividends in arrears. What will be the total dividend payment to common stockholders?
A) $50,500
B) $8000
C) $39,500
D) $90,000
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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wrote...
#1
5 years ago
 A
Explanation:
Preferred: [(25,000  $18)  7%] + $8000 = $39,500
Common: $90,000 -$39,500 = $50,500
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