The MacLellan Group last paid a dividend in 2014 in the amount of $8,000. It has $20
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The MacLellan Group last paid a dividend in 2014 in the amount of $8,000. It has $20 par, 6 percent cumulative preferred stock, 10,000 shares issued and outstanding, as well as $10 par, 6 percent common stock, 20,000 shares issued and outstanding. The preferred shareholders participate at a rate of 2 percent when common dividends are paid. In 2015 a cash dividend of $80,000 was declared. What will be the total preferred dividend for 2015?
Related Book For
Advanced Accounting
ISBN: 978-0134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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