outstanding stock of the Abel corporation included 22,000 shares of $3 par common stock and 8,000 shares of 7%,$20 par non cumulative preferred stock. in 2009, Abel d

Managerial Accounting 5. stock ng stock Corporation included 22,000 shares of S3 par comme and shares of S20 par noncumulative In dividends the Abel ared and paid dividends of declared and paid A) S24,4800 much of the 2010 dividend was distributed to preferred shareholde B) $11,200 C) D) None of the above 6. On the dividend record date. an entry may be required if it is a stock dividend. A) B) Dividends Payable is debited. C) no entry is required. D) a dividend becomes a current obligation. 7. un Inc. has 6,000 shares of 4%, $80 par value, cumulative preferred sto shares of $4 par value common stock outstanding at December 31,200 annual dividend on the preferred stock? A) $19,200 in total B) 04 per share CO $32 per share D) $2,400 in total 8. Lopez, Inc. has 4,000 shares of 3%, $100 par value, cumulative p 60,000 shares of S4 par value common stock outstanding at Dece December 31, 2010. The board of directors declared and paid a In 2010, $42,000 of dividends are declared and paid. What are the preferred and common shareholders in 2010? Preferred $16,800 $25,200 $21,000 $21,000 $25,200 $16,800 $30,000 $12,000