Ontario Manufacturing, Inc., reported the following at December 31, 2021, and December 31, 2022: Ontario Manufacturing has

Question:

Ontario Manufacturing, Inc., reported the following at December 31, 2021, and December 31, 2022:

Ontario Manufacturing has paid all preferred dividends only through 2018.

Requirement

1. Calculate the total amounts of dividends to both preferred and common stockholders for 2021 and 2022 if total dividends are $90,000 in 2021 and $189,000 in 2022.

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Financial Accounting

ISBN: 9780136899037

13th Edition

Authors: C. William Thomas, Wendy M Tietz

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Question Posted: Feb 21, 2023 09:01 AM

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Ontario Manufacturing, Inc., reported the following at December 31, 2021, and December 31, 2022: Ontario Manufacturing has

Question:

A1 1 Stockholders' Equity 2 Preferred stock, cumulative, $4.00 par, 5%, 70,000 shares issued Common stock, $0.05 par, 9,250,000 shares issued 3 4 $ 280,000 462,500

Step by Step Answer:

Req 1 2021 Total dividend Preferred dividends in arrears 2019 70000 shares x 400parper ...View the full answer

Financial Accounting

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