Blue Spruce Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 21,000 shares $ 504,000 Common shares outstanding: 33,000 shares 2,310,000 Retained earnings 1,031,310 (a) Your answer is partially correct. Try again. Assuming that the directors decide to declare total dividends in the amount of $515,655, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.44 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to 0 decimal places, e.g. 5,275.) Preferred Dividend 237492.5 Common 278162.5 Total 515655 Attempte: 3 of 15 weed SAVE FOR LATER FURMIT ANSWER
Blue Spruce Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 21,000 shares $ 504,000 Common shares outstanding: 33,000 shares 2,310,000 Retained earnings 1,031,310 (a) Your answer is partially correct. Try again. Assuming that the directors decide to declare total dividends in the amount of $515,655, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.44 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to 0 decimal places, e.g. 5,275.) Preferred Dividend 237492.5 Common 278162.5 Total 515655 Attempte: 3 of 15 weed SAVE FOR LATER FURMIT ANSWER
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 5
Blue Spruce Limited's ledger shows the following balances on December 31, 2020:
Preferred shares outstanding: 21,000 shares $504,000
Common shares outstanding: 33,000 shares
Retained earnings
2,310,000
1,031,310
▼ (a)
Your answer is partially correct. Try again.
Assuming that the directors decide to declare total dividends in the amount of $515,655, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred
shares, which pay a dividend of $1.44 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to 0 decimal places, e.g. 5,275.)
Preferred
Dividend
237492.5
Common
278162.5
Total
515655
Attempts: 3 of 15 used
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