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    desire197's Avatar
    desire197 Posts: 2, Reputation: 1
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    #1

    Nov 10, 2010, 02:23 PM
    Outstanding stock of the colt corporation included 20,000 shares of $5par common stoc
    Outstanding stock of the colt coproation included 20,000 shares of $5 par common stock and 5,000 shares of 5% $10par noncumulative preferred stock. In 2009, colt declared and paid dividends of $2,000 in 2010, colt declared and paid dividends of $6,000. How much of the 2010 dividend was distributed to preferred shareholders?
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    desire197 Posts: 2, Reputation: 1
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    #2

    Nov 10, 2010, 02:27 PM

    Colt corporation included 20,000 shars of $5 par common stock and 5,000 shares of 5%, $10 par nonculative preferred stock declared and paid dividiends of $2,000 & $6,000 how much dividend was distributed to preferred shareholders?
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    pready Posts: 3,197, Reputation: 207
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    #3

    Nov 10, 2010, 03:35 PM

    Dividends paid to preferred stockholders = par value of preferred stock or $10 * 5% * number of preferred shares outstanding.
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