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Cumulative Preferred Dividends
Capital stock of Barr Company includes:
As of December 31, 2018, 2 years’ dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total S360.000.
Required:
- Determine the amount of dividends that will be paid to Barr’s common and preferred stockholders in 2019.
- If Barr paid $280,000 of dividends, determine how much each group of stockholders would receive.
Concept introduction:
Cash dividend:
The Cash dividend is the amount of dividend paid to shareholders in cash. The Cash dividend is declared first and paid later. There are two journal entries made, one at the time of declaration of dividend and another at the time of payment.
Requirement 1:
To calculate:
The amount of dividend for preferred and common stockholders in 2019.
The amount of dividend for preferred and common stockholders in 2019 is calculated as follows:
| Preferred Dividend | Common Dividend | Total | Preferred Dividend in Arrears | |
| Year 201... |
Concept introduction:
Cash dividend:
The Cash dividend is the amount of dividend paid to shareholders in cash. The Cash dividend is declared first and paid later. There are two journal entries made, one at the time of declaration of dividend and another at the time of payment.
Requirement 1:
To calculate:
The amount of dividend for preferred and common stockholders in 2019.
Concept introduction:
Cash dividend:
The Cash dividend is the amount of dividend paid to shareholders in cash. The Cash dividend is declared first and paid later. There are two journal entries made, one at the time of declaration of dividend and another at the time of payment.
Requirement 2:
To calculate:
The amount of dividend for preferred and common stockholders in 2019.
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