Reference no: EM133028044
Question - A corporation has issued 9,000 shares of $5 cumulative preferred shares for a total of $450,000 and 27,000 common shares for a total of $270,000. No dividends have been declared for 2020 and 2021. In 2022, the corporation declares a 288,000 dividend. What is the amount to be paid to common shareholders?
Assume retained earning had a January 1, 2020, balance of $5,000. During January, dividends of $3,000 were declared but not paid, and a profit of $7,000 was realized. What is January 31, 2020, post-closing balance in retained earnings?
Assume the city of Oakville, Ontario issued a $200,000, 7%, five-year bond dated November 1, 2020. Interest is paid quarterly beginning February 1, 2021. What is the total amount of interest paid on February 1, 2021?
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