During 2016,total Dividends Declared by Jackson Corp

question 45

Multiple Choice

During 2016,total dividends declared by Jackson Corp.amounted to $29,000.There were 5,000 shares of $2 cumulative preferred shares outstanding and 10,000 common shares outstanding.No dividends were declared in 2015.The total amount of dividends payable to each class of shares in 2016 amounted to:

• A) $10,000 to preferred, $19,000 to common
• B) $20,000 to preferred, $9,000 to common
• C) $29,000 to preferred, $0 to common
• D) $9,000 to preferred, $20,000 to common

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