Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. xyz company began operations in january, 2017, by

XYZ Company began operations in January, 2017, by issuing 7,500 shares of 9%, cumulative, $65...

90.2K

Verified Solution

Question

Accounting

XYZ Company began operations in January, 2017, by issuing 7,500 shares of 9%, cumulative, $65 par value preferred stock and 16,000 shares of $5 par value common stock. XYZ Company paid $36,000 of dividends in 2017, they paid $45,000 of dividends in 2018, they paid $50,000 of dividends in 2019, they paid $28,000 of dividends in 2020, and they paid dividends of $85,000 in 2021. Calculate the amount of the $85,000 dividend paid in 2021 that was paid to common stockholders. Do not use decimals in your answer.

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

Q

Consider the following sets of sample data A 20 347 20 327 22 117 21...

Statistics
Q

A company claims to manufacture paper clips with a standard deviation of less than 0.12g. A set...

Statistics
Q

The Legal and Ethical Environment of Business What one legal concept did you learn this semester that...

General Management
Q

1. An individual who is eligible to be claimed as a dependent on another's return and...

Accounting
Q

graphed below 12 11 10 9 8 7 6 5 4 3 4 5 12...

Geometry
Q

Pretzelmania, Incorporated, issues 7%,15-year bonds with a face amount of $70,000 for $76,860 on ...

Accounting
Q

PLEASE ONLY ANSWER questjon 2. please fill in the last chart i have provided. use...

Accounting
Q

At December 31, 2022, Bridgeport Corporation reported the following plant assets. $ 5,673,000 3.989,825 Land...

Accounting
Q

During 2023, the Beach Restaurant had soles revenues and food costs of $730,000 and $515,000,...

Accounting
Q

On october 1, 2011, Milan Enterprises borrows $300,000 cash from a bank by signing a...

Accounting
Q

Required: a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were...

Accounting
Q

A productivity index of 110% means that a companys labor costs would have been 10%...

Accounting