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Rina8888 [55]
3 years ago
14

Encore Inc. declared an $80,000 cash dividend. It currently has 3,000 shares of 7%, $100 par value cumulative preferred stock ou

tstanding. It is one year in arrears on its preferred stock. How much cash dividends will Encore distribute to the common stockholders?
Business
1 answer:
blsea [12.9K]3 years ago
3 0

Answer:

$38,000

Explanation:

Before distributing dividends to common stockholders, Encore must first deal with the preferred stockholders.

preferred stock annual payment = 3,000 shares x 7% x $100 = $21,000

Since the company owes one year's payment to preferred stockholders, it must pay them two years now = $21,000 x 2 = $42,000

So Encore will have $38,000 (= $80,000 - $42,000) left to distribute to commons stockholders.

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6 0
1 year ago
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drek231 [11]

Answer:

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Explanation:

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6 0
3 years ago
Faith age 42, orally agreed to work for Trinity, Inc. for the rest of her life for $50,000 per year. This agreement would not be
Paraphin [41]

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Explanation:

8 0
3 years ago
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. According to the path-goal theory of leadership, which of the following leadership styles stresses high-quality performance an
const2013 [10]

Answer:

The correct answer to the following question will be Option C (Achievement-oriented leadership).

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4 0
3 years ago
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hodyreva [135]
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3 0
3 years ago
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