BULLDOG, INC. Corporation did not pay dividends in 2010 or 2011, but in the current year...

 

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BULLDOG, INC. Corporation did not pay dividends in 2010 or 2011, but in the current year (2012), the board of directors declared a total $6,000 cash dividend. Current outstanding stock includes the following: Preferred, 5%, $30 par-value Common, $20 par-value 1,000 shares 5,000 shares 1. Assuming the preferred stock is noncumulative, calculate the amount of dividends to be paid to each class of stockholder and record the entry to be made on the date of declaration. 2. Assuming the preferred stock is cumulative, calculate the amount of dividends to be paid to each class of stockholder and record the entry to be made on the date of declaration. 3. Assuming the preferred stock is cumulative and the total dividend declared was only $4,000, calculate the amount of dividends to be paid to each class of stockholder and the amount of any dividends in arrears after the current year dividend is paid. BULLDOG, INC. Corporation did not pay dividends in 2010 or 2011, but in the current year (2012), the board of directors declared a total $6,000 cash dividend. Current outstanding stock includes the following: Preferred, 5%, $30 par-value Common, $20 par-value 1,000 shares 5,000 shares 1. Assuming the preferred stock is noncumulative, calculate the amount of dividends to be paid to each class of stockholder and record the entry to be made on the date of declaration. 2. Assuming the preferred stock is cumulative, calculate the amount of dividends to be paid to each class of stockholder and record the entry to be made on the date of declaration. 3. Assuming the preferred stock is cumulative and the total dividend declared was only $4,000, calculate the amount of dividends to be paid to each class of stockholder and the amount of any dividends in arrears after the current year dividend is paid.

Answer rating: 100% (QA)

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