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

60.1K

Verified Solution

Question

Accounting

Bramble Corporation's December 31,2020 balance sheet showed the following:
8% preferred stock, $20 par value, 42000 shares
authorized; 37000 shares issued
$740000
Common stock, $10 par value, 2400000 shares authorized;
2350000 shares issued, 2318000 shares outstanding
23500000
Paid-in capital in excess of par-preferred stock
61500
Paid-in capital in excess of par-common stock
27030000
Retained earnings
Treasury stock (32000 shres)
661000
Bramble declared and paid a $77700 cash dividend on December 15,2020. What amount of dividends did Bramble's common
stockholders receive?
$77700.
$0.
$101200.
image

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