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The following information is provided for Bold Company for the year 2017: ,preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding . Common
The following information is provided for Bold Company for the year 2017: ,preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding . Common stock, $100 par value, 2,000 shares issued and outstanding Dividends in arrears for three prior years (2014-2016) . Total dividends declared and paid in 2017 were $50,000 Assuming the preferred stock is noncumulative, what amount of the 2017 dividend declaration for the amount of dividends in arrears was recorded with a credit to the Dividends payable account on the date of declaration? O $12,000. O $3,000 O $50,000 QUESTION 40 2.5p On November 1, 2015, Davis Company issued $30,000, ten-year, 7% bonds for $ 29.100 The bonds were dated November 1, 2015, and interest is payable each November 1 and May 1 Davis uses the straight-line method of amortization. How much is the book value of the bonds after the November 1, 2016 interest payment was recorded using the straight-line method of amortization? O $29,100 O $29.190 O $29,280 N
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