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drake34 drake34
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Posts: 369
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A year ago
Occidental Produce, Inc. has 47,000 shares of common stock outstanding and 4,000 shares of preferred stock outstanding. The common stock is $0.06 par value; the preferred stock is 9% noncumulative with a $100.00 par value. On October 15, 2017, the company declares a total dividend payment of $51,000. How much dividend will be paid to the preferred stockholders?
A) $51,000
B) $24,000
C) $36,000
D) $2,820
Textbook 

Horngren's Accounting


Edition: 11th
Authors:
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FanmkreyolFanmkreyol
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Posts: 148
A year ago
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 C
Explanation:  C) Dividend paid to the preferred stockholders = ($100.00  9%)  4,000 = $36,000
1

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wrote...
A year ago
I tried finding this in the textbook, but it wasn't helpful. Do you mind mentioning where you found it?
wrote...
A year ago
I had to be of digging to get them, along with research online. The textbook is actually quite good and informative...
wrote...
A week ago
That's crazy.
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