Jacklie Syndicate Began Operations on January 1,20X3 $\quad$ $\quad$

question 73

Multiple Choice

Jacklie Syndicate began operations on January 1,20X3.The company has the following items included in the stockholders' equity section of its balance sheet on December 31,20X3 and December 31,20X4. 8% Preferred Stock,$100 par,100,000 shares authorized,
25,000 shares issued and outstanding $\quad$$\quad$$\quad$$\quad$$\$ 2,500,000$ Common Stock,$3 par,500,000 shares authorized;
150,000 shares issued and outstanding $\quad$ $\quad$ $\quad$ $450,000$
Additional paid-in capital $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $2,250,000$ Total dividends declared and paid were
$\begin{array}{cl}\text { during } 20 \times 3 & \$ 170,000 \\\text { during } 20 \times 4 & 210,000 \\\text { during } 20 \times 5 & 240,000\end{array}$
If Jacklie Syndicate's preferred stock were cumulative,how much of the 20X4 dividends would have been distributed to

• A)\(\begin{array}{ll}
• \underline{ \text { Preferred Stock} }& \underline{ \text { Common Stock }}\\
• \$ 210,000 &\$ 0\\
• \end{array}\)
• B)\(\begin{array}{lccc}
• \underline{ \text { Preferred Stock } }& \underline{ \text { Common Stock }}\\
• \$ 200,800& \$9,200 \\
• \end{array}\)
• C)\(\begin{array}{lccc}
• \underline{ \text { Preferred Stock } }& \underline{ \text { Common Stock }}\\
• \$ 201,429 & \$8,571 \\
• \end{array}\)
• D)\(\begin{array}{lccc}
• \underline{ \text { Preferred Stock} } & \underline{ \text { Common Stock }}\\
• \$ 204,808 & \$ 5,192\\
• \end{array}\)
• E) \(\begin{array}{lccc}
• \underline{ \text { Preferred Stock } }&\underline{ \text { Common Stock }}\\
• \$ 200,000 & \$10,000 \\
• \end{array}\)

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Definitions:

Range Corollary

A principle in George Kelly's personal construct theory which states that each construct applies to a finite range of events and is limited in its applicability.

Sociality Corollary

A principle suggesting that an individual's understanding of reality is influenced by the perspective and interactions within a social context.

Range Of Convenience

A term possibly referring to the concept of "range of tolerance" in ecology, or if contextually about psychology or sociology, it might not be a recognized term, thus NO.

Cognitive Processes

Mental activities involved in acquiring knowledge and understanding through thought, experience, and the senses.