Kis Corp Declared $35,000 in Dividends in 2014

question 172

Essay

Kis Corp. declared $35,000 in dividends in 2014. Share capital consists of 1,100 common shares and 3,700, $2 preferred shares. Dividends have not been paid on the preferred shares since 2011.
Instructions
Determine the dividends to be paid on preferred shares assuming:
a. the preferred shares are cumulative.
b. the preferred shares are non-cumulative.

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Definitions:

Sex Chromosomes

Chromosomes that determine the sex of an organism, commonly referred to as X and Y chromosomes in many species.

Female Mammals

Members of the mammalian species characterized by the possession of mammary glands with which they feed their young, and typically possessing two X chromosomes.

Barr Body

An inactivated X chromosome found in the nuclei of female mammalian cells.

Résumé

A document summarizing an individual's background, skills, and qualifications, typically used for job applications.