Answer:
The amount of dividends distributed to preferred stockholders in 2017 is $10000.
Explanation:
The preferred stock is non cumulative which means that if the company is unable to pay dividends on preferred stock in a certain year, the dividend for that year will not be accumulated and will not be paid in the next year.
Thus, the company only paid a dividend of $2700 in 2016 and the remaining dividends will not be payable by the company in year 2017.
The dividend on each share of preferred stock per year is = 10 * 0.05 = $0.5 per share
The number of shares of preferred stock are 20000.
The total dividends that will be paid to preferred stock holders in 2017 is = 0.5 * 20000 = $10000
Thus, out of the $27000 dividends of 2017, $10000 was distributed to preferred stockholders.
<span>What is the most important duty of a firm's financial officer? to ensure that the firm has enough cash on hand to meet its commitments at any given time to decide how to pay for investments to manage working capital to make investment decisions?</span>
Timothy stretched the rope between the hut and the beach for Philips to follow.
Answer:
$3,960
Explanation:
The Borrowed amount is $198,000 on November 1, 2021.
The interest expense at December 31, 2021 is calculated as shown below:
I=PRT
R=12%=0.12
P=$198,000
T=2 Months=(2/12) year
I=198,000*0.12*(2/12)
I=$3960
The correct option will be "B. $3,960."
