The Following Information Is Provided for Bold Company for the Year

question 120

Multiple Choice

The following information is provided for Bold Company for the year 2019: • 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 (2016-2018)
• Total dividends declared and paid in 2019 were $50,000.
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Assuming the preferred stock is noncumulative,what amount of the 2019 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.

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Definitions:

Occipital Lobe

The region of the cerebral cortex located at the back of the brain, which is primarily responsible for visual processing.

Rear of Skull

The back part of the skull, known anatomically as the occipital region, important for protecting the brain and supporting head movement.

Cognitive Training

A set of exercises designed to improve mental abilities such as memory, attention, and problem-solving through regular practice.

Intelligence

Postulated by some psychologists to represent the sum total of a person’s cognitive abilities and resources.