The mosaic corporation issued 10000 shares of $50 par, 9% preferred stock, and received $530000 from it investors. The following is true a. The company debits 530000 in cash and pays 45000 in cash dividends annually B. the company debits 530000 in cash and pays 50000 in cash dividends annually  c. the company debits 530000 in cash and pays 9000 annually in cash dividends d. the company debits 530000 in cash and credits preferred stock 530000

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A:

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Q: total legal capital

A: Legal capital means the par value or stated value portion of the share capital.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.