FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bonita, Inc., has 3150 shares of 5%, $100 par value, cumulative preferred stock and 25200 shares of $1 par value common stock
outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors
declares and pays a $28000 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in
2020?
$15750
O $0
O $28000
O $8750
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Transcribed Image Text:Bonita, Inc., has 3150 shares of 5%, $100 par value, cumulative preferred stock and 25200 shares of $1 par value common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $28000 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? $15750 O $0 O $28000 O $8750
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