Ask Question
11 June, 09:55

Otis Thorpe Corporation has 10,000 shares of $100 par value, 8%, preferred stock and 50,000 shares of $10 par value common stock outstanding at December 31, 2020. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2017, what are the dividends in arrears on December 31, 2020, balance sheet? The amount of dividends in arrears on the December 31, 2020

+2
Answers (1)
  1. 11 June, 11:07
    0
    Dividend in arrears for 3 years from Dec 2017 to Dec 2020

    = 10,000 X $100 X 8% X 3

    = $240,000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Otis Thorpe Corporation has 10,000 shares of $100 par value, 8%, preferred stock and 50,000 shares of $10 par value common stock ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers