Ask Question
BusinessBusiness
1 May, 19:07

Manner, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and20,000 shares of $1 par value common stock outstanding at December 31, 2010. Therewere no dividends declared in 2009. The board of directors declares and pays a $45,000dividend in 2010. What is the amount of dividends received by the common stockholdersin 2010? a. $0b. $25,000c. $45,000d. $20,000

+5
Answers (1)
  1. 1 May, 19:23
    0
    The amount of dividend is $20,000.

    Explanation:

    Calculate the dividend on common stock using the equation as follows:

    Dividend = Dividend Declared - (Number of Preferred shares * parvalue) * 5%

    =$45,000 - (5,000*$100*5%)

    =$45,000-$25,000

    =$20,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Manner, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and20,000 shares of $1 par value common stock ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Play now? play later? you can become a millionaire! that's what the junk mail said. but then there was the fine print: if you send in your entry before midnight tonight, then here are your chances: 0.
Answers (1)
Which of the following statements about charts is true? Multiple Choice The title of a chart should be at least ten words long. Charts have fewer limits than tables in the amount of information they can provide.
Answers (1)
The first question you ask is: "gearup has several offices located around the country. what kinds of networks will gearup need to implement and/or support in this scenario
Answers (1)
Your team must still go through normal approval processes, indicating that it does not have, which will likely impede its ability to reach the stretch goal.
Answers (1)
With e-commerce and the internet, which of the following depicts a trend in advertising?
Answers (1)
New Questions in Business
An airline company is interested in the opinions of their frequent flyer customers about their proposed new routes. Specifically, they want to know what proportion of them plan to use one of their new hubs in the next 10 months.
Answers (1)
Taylor Bank lends Guarantee Company $92,811 on January 1. Guarantee Company signs a $92,811, 12%, nine-month note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is
Answers (1)
Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the
Answers (2)
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false
Answers (1)
Which of the following actions differentiates an entrepreneur from other small business owners?
Answers (1)
Home » Business » Manner, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and20,000 shares of $1 par value common stock outstanding at December 31, 2010. Therewere no dividends declared in 2009.
Sign Up Forgot Password?