Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At Dec.31,2020 X company has following Balances Share Capital of OS $500,000 at par value of $10per share Share Capital of PS $100,000 at par
At Dec.31,2020 X company has following Balances Share Capital of OS $500,000 at par value of $10per share Share Capital of PS $100,000 at par value $100 per share Retained Earning $200,000 PS has a right in 5% interest and cumulative and fully participating Dividends Paid is $100,000 PS has one year dividends in arrear
PS Share from cash dividends in 2020 is
Answer:
| At Dec.31,2020 X company has following Balances | ||||||
| Share Capital of OS $500,000 at par value of $10per share | ||||||
| Share Capital of PS $100,000 at par value $100 per share | ||||||
| Retained Earning | $200,000 | |||||
| PS has a right in 5% interest and cumulative and fully participating | ||||||
| Dividends Paid is $100,000 | ||||||
| PS has one year dividends in arrear | ||||||
| PS Share from cash dividends in 2020 is |
Answer:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
