Multiple Choice
Elmore Corporation had the following shares of stock outstanding on December 31,2013: Common stock,$250 par value,200,000 shares outstanding
Preferred stock,8 percent,$50 par value,cumulative,20,000 shares outstanding
Dividends were in arrears for 2011 and 2012.On December 31,2013,total cash dividends of $400,000 were declared.The total amounts payable to preferred stockholders and common stockholders,respectively,are
A) $80,000 and $320,000.
B) $240,000 and $160,000.
C) $160,000 and $240,000.
D) $200,000 and $200,000.
Correct Answer:
Verified
Correct Answer:
Verified
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