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What venco ordinary shareholders received

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Reference no: EM132918461

Venco Corporation's December 31, 2020 statement of financial position showed the following:

Share capital-preference 6%, $20 par value, cumulative, 10,000 shares authorized; 7,500 shares issued $ 150,000

Share capital-ordinary, $10 par value, 1,000,000 shares authorized;

975,000 shares issued, 960,000 shares outstanding 9,750,000

Share premium-preference 30,000

Share premium-ordinary 13,500,000

Retained earnings 3,750,000

Treasury shares (15,000 shares) 315,000

Problem 1: Venco declared and paid a $45,000 cash dividend on December 15, 2020. If the company's dividends in arrears prior to that date were $9,000, Venco's ordinary shareholders received

a. $36,000.

b. $18,000.

c. $27,000.

d. no dividend.

Reference no: EM132918461

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