At December 31, 2020 and 2021, Coronado Industries had outstanding 4300 shares of $100 par value 6% cumulative preferred stock and 20000 shares of $10 par value common stock. At December 31, 2020, dividends in arrears on the preferred stock were $12100. Cash dividends declared in 2021 totaled $46000. What amounts were payable on each class of stock?
Preferred dividend each year=(4300*100)*6%=$25800
Hence since preferred dividend is cumulative;preferred dividend not paid for in one year is bought forward and paid for in coming years.
Hence total preferred dividend to be paid=(12100+25800)=$37900
NOTE:Any balance left over after paying preferred dividend is paid to common stockholders
Hence dividend paid to common stockholders=(46000-37900)=$8100
At December 31, 2020 and 2021, Coronado Industries had outstanding 4300 shares of $100 par value...
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Crane Company has 10,000 shares of 7%, $100 par value,
cumulative preferred stock outstanding at December 31, 2022. No
dividends were declared in 2020 or 2021.
If Crane wants to pay $360,000 of dividends in 2022, what amount of
dividends will common stockholders receive?
Dividends allocated to common
stock
$enter Dividends allocated to common stock in dollars