Bonita, Inc., has 5500 shares of 5%, $100 par value, noncumulative preferred stock and 55000 shares of $1 par value common stockoutstanding at December 31, 2020. If the board of directors declares a $99700 dividend, theO preferred stockholders will receive 1/10th of what the common stockholders will receive.O $27500 will be held as restricted retained earnings and paid out at some future date.O preferred stockholders will receive $27500 and the common stockholders will receive $72200.O preferred stockholders will receive the entire $99700.

Lets understand the basics.Share types are divided into mainly two types which are,(1) Equity…

Answered: Bonita, Inc., has 5500 shares of 5%,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Integrity Company, a newly formed company, had the following shares issued and outstanding as of April 1, 2022: Ordinary share, P20 par (20,000 shares originally issued for P60 per share) Preference share, P50 par (6,000 shares originally issued for P100 per share) How much is the Ordinary Share Capital, Preference Share Capital, and Share Premium, respectively? a. P400,000; P300,000; and P1,100,000 b. P1,200,000; P300,000; and P300,000 c. P400,000; P600,000; and P800,000 d. P1,200,000; P600,000; and P0
Cefner Corporation paid dividends of P200,000 and P300,000 at the end of 2019 and 2020, respectively. The corporation has not paid any other dividends since its organization on January 2, 2019. The outstanding shares are 10,000, 12% preference shares, par P10 and 50,000 ordinary shares, Par P100. If preference share is non-cumulative and fully participating, how much total dividends would be received in 2019 by the ordinary shareholders?
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of directors declares a 50 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018. Prepare the journal entry. Please dont provide soluton image based solutions thank you
Marigold, Inc. has 10500 shares of 4%, $100 par value, noncumulative preferred stock and 105000 shares of $1 par value common stock outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $49300 dividend in 2019. In 2020, $111000 of dividends are declared and paid, What are the dividends received by the preferred and common shareholders in 2020? Preferred Common $42000 $69000 $0 $111000 $79500 $31500 $55500 $55500 96 5 6 7 d
Bramble, Inc. has 10700 shares of 5%, $100 par value, noncumulative preferred stock and 107000 shares of $1 par value common stock outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $50500 dividend in 2019. In 2020, $109300 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2020? Preferred Common $109300 $60800 $48500 $53500 $55800 $54650 $54650
Question-based on, "common stockholders". I have tried it but no answer yet.
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 24,000 shares of common stock on the open market as treasury stock paying $40 per share. Brisbane sold 6,000 treasury shares on September 30, 2021, for $45 per share. Net income for 2021 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 50,000 common shares at $40. The market price of the common shares averaged $50 during 2021. Compute Brisbane's basic and diluted earnings per share (rounded to 2 decimal places) for 2021.
Question-based on, "Common stockholders". I have tried it but not correct. Any help would be appreciated.
G.Swifty Corporation was organized on January 1, 2020, with authorized capital of 1060000 shares of $10 par value common stock. During 2020, Swifty issued 55000 shares at $11 per share, purchased 5500 shares of treasury stock at $12 per share, and sold 5500 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020? O $55000 O $0 O $66000 O $11000
Darling Corporation issued 200,000 shares of $20 par value, 5% preferred stock on January 1, 2019, for $4,500,000. In December 2021, Darling declared its first dividend of $800,000. Part 1 Part 2 If the preferred stock is not cumulative, how much of the $800,000 would be paid to common stockholders? Common Stock Dividends $
Outstanding stock of the Marigold Corporation included 39800 shares of $5 par common stock and 19900 shares of 6%, $10 par noncumulative preferred stock. In 2019, Marigold declared and paid dividends of $8900. In 2020, Marigold declared and paid dividends of $24400. How much of the 2020 dividend was distributed to preferred shareholders? O $15920 $8900 O $11940 O None of these answer choices are correct
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