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CASE 1: Preference shares Dividends Consider the following partial Statement of Stockholders' Equity Ordinary shares,...

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CASE 1: Preference shares Dividends Consider the following partial Statement of Stockholders' Equity Ordinary shares, s5 par shares outstanding Preference shares, 996; $100 par value; 1 ,000 shares authorized issued and outstandin value; 40,000 shares authorized, issued and 200,000 100,000 Total contributed capital 300,000 The Board of Directors did not declare or pay dividends in 2004. In 2005, the Board of Directors declares and pays cash dividends of $42,000, Required Determine the total cash dividends paid to the preference and ordinary shares during each of the two years under 2 conditions: Preference shares are Non Cumulative Preference shares are Cumulative Intermediate Accounting-AUC-2013/2014 Dt KHALED SANA&DlnSo CPA

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