If the ending cash is greater than the minimum cash balance, excess cash exists

Edward Accounting Services has an outstanding issue of 1,000 shares preferred stock with a $100 par value, an 9 percent annual dividend, and 5,000 shares of common stock outstanding

If the stock is cumulative and the board of directors has passed the preferred dividend for the last two years, how much must preferred stockholders be paid prior to paying dividends to common stockholders?

Pure time-division multiplexing uses the bandwidth of the link most efficiently when only a few of the connected users are communicating

a. True b. False