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Problem 1: Common stock has voting rights; preferred stock usually does not have voting rights.
Option 1: True
Option 2: False
Problem 2: Taha Company announces a 4:1 stock split. Prior to the stock split, Taha had 1,000,000 shares of common stock outstanding and the par value was $0.20 per share. After the stock split, Taha would have:
Option 1: 250,000 outstanding shares with a par value of $0.05 per share.
Option 2: 4,000,000 outstanding shares with a par value of $0.05 per share.
Option 3: 250,000 outstanding shares with a par value of $0.80 per share.
Option 4: 4,000,000 outstanding shares with a par value of $0.80 per share.
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On January 1, 2013, Plano Company acquired 8 percent (16,800 shares) of the outstanding voting shares of the Sumter Company for $235,200, an amount equal to Sumter’s underlying book and fair value. Record the annual dividends declared and received fr..
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Find How much will the preferred shareholders receive? At December 31, 2020, the board of directors wants to distribute $200,000 in dividends.
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