Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. written inc has outstanding 600,000 shares of $2 p

Written Inc has outstanding 600,000 shares of $2 par common stock and 120,000 shares of...

70.2K

Verified Solution

Question

Accounting

Written Inc has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no par 6% preferred stock with a stated value of $5. Dividends have been paid in every year except for the past two years and the current year.

Assuming that $270,000 will be distributed, and the preferred stock is cumulative and participating, how much will the common stockholders receive?

a) $162,000

b) $132,000(answer)

c) $138,000

d) $72,000

The answer is b)$132,000 from key answer but can someone show me how? show your work please and thanks in advance!

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

Biology
1.2K views

Which of the following is the function of the molluscan mantle cavity 1 houses gills...

Physics
1.2K views

15 In the given electric field E d x i E j N Ca hypothetical...

Physics
1.2K views

Two masses are attracted by a gravitational force of 19.0 N.What will the force of...

Physics
1.2K views

work is done against gravity W m g h 10 x 9 Es x is...

Geometry
1.2K views

Circumference of a Circle The circumference of any circle or the distance around the circle...

Basic Math
1.2K views

9 A ladder 13 feet long is leaning against the side of a building If...

Statistics
1.2K views

The data below show the miles driven on a single day by a random sample...

Accounting
1.2K views

Please help with the explanation will rate. Financial Statements of a Manufacturing Firm The...

Accounting
1.2K views

A standard dormitory of 40,000 square feet will be constructed in two locations: Huntsville, Alabama,...

Accounting
1.2K views

3. The first step for time-and-material pricing is to calculate the material loading charge. A)...

Accounting
1.2K views

A -- 1 2 Risk Assessment Questionnaire Client: Esther Dothers Balance Sheet Date:31/12/2014 Revieved by:...

Accounting
1.2K views

A project generates a revenue of 60.000 today and 50.000 after 2 years...