The maggie corporation has the following classes of stock, Ask an Expert

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The Maggie Corporation has the following classes of stock outstanding as of December 31, 2004: Common stock, $20 par value, 20,000 shares outstanding .Preferred stock, 6%, $100 par value, cumulative, 1,000 share outstanding.Dividends on preferred stock have been in arrears of 2002 and 2003. On December 31, 2004, a total cash dividend of $100,000 was declared. what are the amounts of dividends payable on both the common and preferred stock, respectively?

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Accounting Basics, Accounting

Category:- Accounting Basics
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