Question 29 Tamarisk Corp. had $100,000 of 7%, $20 par value preferred stock and

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Question 29
Tamarisk Corp. had $100,000 of 7%, $20 par value preferred stock and 12,000 shares of $25 par value common stock outstanding throughout 2017.





Assuming that total dividends declared in 2017 were $64,000, and that the preferred stock is not cumulative but is fully participating, common stockholders should receive 2017 dividends of what amount?
Common stockholders should receive $







Assuming that total dividends declared in 2017 were $64,000, and that the preferred stock is fully participating and cumulative with preferred dividends in arrears for 2016, preferred stockholders should receive 2017 dividends totaling what amount?
Preferred stockholders should receive $







Assuming that total dividends declared in 2017 were $30,000, that the preferred stock is cumulative, nonparticipating, and was issued on January 1, 2016, and that $5,000 of preferred dividends were declared and paid in 2016, the common stockholders should receive 2017 dividends totaling what amount?
Common stockholders should receive $

Question 29 Tamarisk Corp. had $100,000 of 7%, $20 par value preferred stock and 12,000 shares of $25 par value common stock outstanding throughout 2017 Assuming that total dividends declared in 2017 were $64,000, and that the preferred stock is not cumulative but is fully participating, common stockholders should receive 2017 dividends of what amount? Common stockholders should receive Assuming that total dividends declared in 2017 were $64,000, and that the preferred stock is fully participating and cumulative with preferred dividends in arrears for 2016, preferred stockholders should receive 2017 dividends totaling what amount? Preferred stockholders should receive Assuming that total dividends declared in 2017 were $30,000, that the preferred stock is cumulative, nonparticipating, and was issued on January 1, 2016, and that $5,000 of preferred dividends were declared and paid in 2016, the common stockholders should receive 2017 dividends totaling what amount? Common stockholders should receive

Explanation / Answer

(a) Total Dividend 64000

Less: Dividend for preferred stock. 100000*7%=7000

Dividend for common stock holders. 57000

(b) Preferred Dividend

For 2016. 7000

For 2017 . 7000

Total divident for preferred stock . $14000

(c) Total Dividend. 30000

Preferred dividend .(7000+2000). 9000

Dividend for common stock holders . 21000

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