Bramble Corp. s December 31, 2020 balance sheet showed the following: 6 % preferred stock, $ 20
Question:
Bramble Corp.’s December 31, 2020 balance sheet showed the following:
6% preferred stock, $20 par value, cumulative, | |
35000 shares authorized; 21000 shares issued | $ 420000 |
Common stock, $10 par value, 3,000,000 shares authorized; | |
1,950,000 shares issued, 1,920,000 shares outstanding | 19800000 |
Paid-in capital in excess of par value - preferred stock | 54000 |
Paid-in capital in excess of par value - common stock | 27600000 |
Retained earnings | 9550000 |
Treasury stock (30,000 shares) | 665000 |
Bramble declared and paid a $82100 cash dividend on December 15, 2020. If the company’s dividends in arrears prior to that date were $20800, Bramble's common stockholders received
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann