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Rachel's Designs has 1,000 shares of 6%, $50 par value cumulative preferred stock issued at the...
Rachel's Designs has 1,000 shares of 6%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders Preferred dividends in arrears for 2019 and 2020 Preferred dividends for 2021 Romaining dividends to common stockholders Total dvidenas
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$ 6000 $ 3000 preferred dividends an arrears for 2019 and 2020 (3000x2) preferred dividends for 2021 - Remaining dividends to conson stockholders $ 1000 Total dividends. $ 10,000 working Notes ) for every year cumulative dividend - ceill accrue cehether paid cov) bot.. Qi) full dividend should be paid to preferred stock then if anything left should be paid to common stockholders - $3000 dividend to preferred steck (1000x850 x 6°10)
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