The board of directors declared and paid a 3000 dividend in, Ask an Expert

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Lopez, Inc. has 2,000 shares of 4%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2009, and December 31, 2010. The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?

Preferred Common

a. $9,000 $6,000

b. $7,500 $7,500

c. $5,000 $10,000

d. $4,000 $11,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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