94 the following information is provided for bold company for the year 2017 preferre 4314070

94 the following information is provided for bold company for the year 2017 preferre 4314070

94.The following information is provided for Bold Company for the year 2017:

• Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for three prior years (2014­­-2016)

• Total dividends declared and paid in 2017 were $50,000.

How much of the 2017 dividend payment was paid to the preferred stockholders assuming the preferred stock is noncumulative? 

A. $12,000.

B. $3,000.

C. $47,000.

D. $38,000.

95.The following information is provided for Bold Company for the year 2017:

• Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for three prior years (2014­­-2016)

• Total dividends declared and paid in 2017 were $50,000.

How much of the 2017 dividend payment was paid to the common stockholders assuming the preferred stock is noncumulative? 

A. $12,000.

B. $3,000.

C. $47,000.

D. $38,000.

96.The following information is provided for Bold Company for the year 2017:

• Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for three prior years (2014­­-2016)

• Total dividends declared and paid in 2017 were $50,000.

Assuming the preferred stock is cumulative, what amount of the 2017 dividend declaration for dividends in arrears was recorded with a debit to the Dividends payable account on the date of declaration? 

A. $12,000.

B. $3,000.

C. $0.

D. $50,000.

97.The following information is provided for Bold Company for the year 2017:

• Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for three prior years (2014­­-2016)

• Total dividends declared and paid in 2017 were $50,000.

Assuming the preferred stock is noncumulative, what amount of the 2017 dividend declaration for the amount of dividends in arrears was recorded with a credit to the Dividends payable account on the date of declaration? 

A. $12,000.

B. $3,000.

C. $0.

D. $50,000.

98.The following information is provided for Slickers, Inc. for year 2016:

• Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for 2014 and 2015

• Total dividends declared and paid during 2016 totaled $25,000

How much of the dividend was paid to the preferred stockholders during 2016 assuming the preferred stock is cumulative? 

A. $3,500.

B. $7,000.

C. $10,500.

D. $14,500.

99.The following information is provided for Slickers, Inc. for year 2016:

• Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for 2014 and 2015

• Total dividends declared and paid during 2016 totaled $25,000

How much of the dividend was paid to the preferred stockholders during 2016 assuming the preferred stock is noncumulative? 

A. $3,500.

B. $7,000.

C. $10,500.

D. $14,500.

100.The following information is provided for Slickers, Inc. for year 2016:

• Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for 2014 and 2015

• Total dividends declared and paid during 2016 totaled $25,000

How much of the dividend was paid to the common stockholders during 2016 assuming the preferred stock is noncumulative? 

A. $3,500.

B. $7,000.

C. $21,500.

D. $14,500.

101.The following information is provided for Slickers, Inc. for year 2016:

• Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding

• Common stock, $100 par value, 2,000 shares issued and outstanding

• Dividends in arrears for 2014 and 2015

• Total dividends declared and paid during 2016 totaled $25,000

How much of the dividend is paid to the common stockholders during 2016 assuming the preferred stock is cumulative? 

A. $3,500.

B. $7,000.

C. $22,500.

D. $14,500.

102.Which of the following is a correct statement about cumulative and noncumulative preferred stock? 

A. They both receive dividends in arrears.

B. Cumulative stock's undeclared dividends accumulate each year until paid while noncumulative stock's right to receive dividends is forfeited in any year that dividends are not declared.

C. Cumulative preferred stock is guaranteed to receive its dividends.

D. Cumulative preferred stock's right to receive dividends is forfeited in any year that dividends are not declared while noncumulative stock's undeclared dividends accumulate each year until paid.

103.What would be the title for the common stock account on a balance sheet prepared using International Financial Reporting Standards (IFRS)?

A. Common shares.

B. Premium shares.

C. Share capital.

D. Capital premium.

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