19. Vangaurd Corporation's December 31, 2020 balance sheet showed the following: 8% preferred stock, $20 par...

 

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19. Vangaurd Corporation's December 31, 2020 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 15,000 shares issued Common stock, $10 par value, 2,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (30,000 shares) $ 300,000 A) $76,000. B) $44,000. C) $52,000. D) $0. 19,500,000 60,000 27,000,000 7,500,000 630,000 Vangaurd declared and paid a $96,000 cash dividend on December 15, 2020. If the company's dividends in arrears prior to that date were $20,000, Vangaurd's common stockholders received 19. Vangaurd Corporation's December 31, 2020 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 15,000 shares issued Common stock, $10 par value, 2,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (30,000 shares) $ 300,000 A) $76,000. B) $44,000. C) $52,000. D) $0. 19,500,000 60,000 27,000,000 7,500,000 630,000 Vangaurd declared and paid a $96,000 cash dividend on December 15, 2020. If the company's dividends in arrears prior to that date were $20,000, Vangaurd's common stockholders received

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Preferred shares are cummulative Preferred Dividend in Arrears ... View the full answer