Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock and...

  

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Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock and 2,000 shares of non- cumulative preferred stock with 11% dividend rate and $70 par value. Clippy Company has not paid any dividend yet. On December 1, 2021, the company declared $50,000 cash dividend payable on February 1, 2022. What is the total amount of cash dividend paid to preferred shareholders? * $34,600 $30,800 $19,200 $15,400 None of the above What is the total amount of cash dividend that will be paid to common shareholders? * $34,600 $30,800 $19,200 $15,400 None of the above mmon What is the amount of cash dividend that will be paid for each share of comm stock? * $114.29 $4.325 $7.7 $1.925 None of the above Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock and 2,000 shares of non- cumulative preferred stock with 11% dividend rate and $70 par value. Clippy Company has not paid any dividend yet. On December 1, 2021, the company declared $50,000 cash dividend payable on February 1, 2022. What is the total amount of cash dividend paid to preferred shareholders? * $34,600 $30,800 $19,200 $15,400 None of the above What is the total amount of cash dividend that will be paid to common shareholders? * $34,600 $30,800 $19,200 $15,400 None of the above mmon What is the amount of cash dividend that will be paid for each share of comm stock? * $114.29 $4.325 $7.7 $1.925 None of the above

Answer rating: 100% (QA)

Answer 15400 Explanation Non Cummulative preferred stock dividend rate 11 Non Cummulati... View the full answer