On july 1 the board of division declared a 30000 dividend, Ask an Expert

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Division Corp has 20,000 shares of $5.00 participating 9 percent cumulative preferred stock and 100,000 shares of $2.00 common stock. On July 1, the board of division declared a $30,000 dividend at the time the common stock was selling for $25 per share and the preferred stock was selling for $30. what the total dividends paid to each class of stock on the payment date was?

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Accounting Basics, Accounting

Category:- Accounting Basics
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