Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 9) electric, inc was incorponatod on fantary 1, 20

9) Electric, Inc was incorponatod on fantary 1, 20i6. Electric issued 4000 sharas of common...

80.2K

Verified Solution

Question

Accounting

image
9) Electric, Inc was incorponatod on fantary 1, 20i6. Electric issued 4000 sharas of common stock and 1200 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 12% dividend rate. Electric has not paid any dividends yet. In 2019, Electric had its first profitable year, and on November 1, 2019, Electric declared a total dividend of $63,000. What is the total amount that will be paid to preferred shareholders? A) 513,200 B) 563,000 (9) 514,400 1) 597,600

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Calculus
1.2K views

and the sot value of the expresif pestra f not possible enter POSSIB infectan

Finance
1.2K views

You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is...

Biology
1.2K views

With all that you know about SARS-CoV-2 and Covid-19, discuss a possible evolutionary scenario for SARS-CoV-2...

Mechanical Engineering
1.2K views

Problem 6.082 SI Steam undergoes an isentropic compression in an insulated piston–cylinder assembly from an initial state...

General Management
1.2K views

Ergonomics Inc. sells ergonomically designed office chairs. The company has the following information: Average demand = 35...

Basic Math
1.2K views

I am doing a kids fishing game. right now I am doing it with 15 fish...

Biology
1.2K views

Hyperthyroidism is known to cause the eyes to bulge outwardly resulting in OA hyperopia B...

Accounting
1.2K views

[10 POINTS] Statement of cash flows ratios. Financial statements for Hilton Company are...

Accounting
1.2K views

Lion Corporation manufactures several types of accessories. For the year,...

Accounting
1.2K views

Instrucciones: Utilice la siguiente informacin para responder a la siguiente pregunta. Cul fue la cantidad...

Accounting
1.2K views

Which of the following statements is true of the economic-order-quantity decision model? ...

Finance
1.2K views

In calculating insurance premiums, the actuarially fair insurance premium is the premium that results in...