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CPA Accountant Review Questions

Category - Accounting

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If a share of cumulative preferred stock has a call price of $95 and has had four years of dividends of $5 each, what is the book value of that share of stock?

$95
$100
$115
$105
$110

Explanation

Answer - C - The book value of the cumulative preferred stock is $115: $95 + (4 x $5) = $115.

Key Takeaway: The book value of cumulative preferred price can be determined by the call price plus the cumulative dividends.

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