XYZ Limited, since it was organized in January 2020, has had outstanding 1,500, ten-dollar ($10),...
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Accounting
XYZ Limited, since it was organized in January 2020, has had outstanding 1,500, ten-dollar ($10), preferred shares, and 15,000 common shares. The corporation declared and paid cash dividends each year as shown below. Required: Part A: Calculate the total dividends paid in each year to the preferred and common shareholders assuming the preferred shares are NON-CUMULATIVE. NOTE: If dividends are not paid, do not leave the cell blank, enter a "0". Required: Part B: Calculate the total dividends paid in each year to the preferred and common shareholders assuming the preferred shares are CUMULATIVE. NOTE: If dividends are not paid, do not leave the cell blank, enter a "0". Part A: Year Total Dividends Declared and Paid Preferred Dividends Common Dividends 2020 $10,000 2021 $16,000 2022 $60,000
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