Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

RAMA Inc. has 3 types of shares. On 31/12/2020, the followings were outstanding shares: 130,000 share- Common stock, par $ 2 25,000 share- Preferred stock,

RAMA Inc. has 3 types of shares. On 31/12/2020, the followings were outstanding shares: 130,000 share- Common stock, par $ 2 25,000 share- Preferred stock, $ 50 par, 8% 8,000 share- Cumulative preferred stock, $ 100 par, 6%. On this date, the company declared a total cash dividends of $ 420,000. It should be noted that the company did not pay any dividends during 2018 and 2019. Required: How much is the total cash dividends that common stockholders will get? NOTE: (When writing your answer do not use commas or sign of the dollar. For example, if your answer is $10,000, write it as 10000)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting, Representation And Responsibility

Authors: Niels Joseph Lennon

1st Edition

0367540436, 9780367540432

More Books

Students also viewed these Accounting questions

Question

How would you support more positive behaviors and help

Answered: 1 week ago