15,000 shares of $100 par, 4 percent, cumulative preferred stock. (Dividends are

Question

15,000 shares of $100 par, 4 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2013.)

   On February 1, 2014, Yan declared a $150,000 cash dividend to be paid March 31 to shareholders of record on March 10.

What amount of dividends will be paid to the preferred shareholders versus the common shareholders?(Amounts to be deducted should be indicated with minus sign.)

Yan Corp. had the following stock issued and outstanding at January 1, 2014: Distributed to Shareholders Preferred Common Total dividend declared Preferred arrearage Current preferred dividend Available for common shares Distributed to common stockholders Total

Explanation / Answer

15,000 shares of $100 par, 4 percent, cumulative preferred stock. (Dividends are

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