Case A:TotalPer shareCase B:TotalPer shareCase C:TotalPer shareItemPreferredSharesAssetsLiabilitiesShareholders' equity$$9,280 $0.80$27,8402.40 $27,840 $2.40 $CommonShares44,9200.9848,1601.052. Assume that the company in Case C issued a 12 percent common stock dividend on the outstanding common shares. The marketvalue per share was $22. on the date of declaration. Complete the following comparative schedule for common shares only, includingexplanation of the differences. (Enter any decreases to account balances with a minus sign.)76,1601.66Amount of Dollar Increase (Decrease)Cash Dividend-Case C Stock Dividend P10-4 (Algo) Comparing Stock and Cash Dividends (AP10-4), LO10-4, 10-6Calgate Company had the following shares outstanding and retained earnings at the end of the current year:Preferred shares, 4% (par value $20; outstanding, 11,600 shares)Common shares (outstanding, 46,000 shares)Retained earnings$ 232,000680,000160,000The board of directors is considering the distribution of a cash dividend to both groups of shareholders. No dividends were declaredduring the previous two years. Three independent cases are assumed:Case A: The preferred shares are non-cumulative; the total amount of dividends is $54,200.Case B: The preferred shares are cumulative; the total amount of dividends is $76,000.Case C: Same as case B, except the amount is $104,000.Required:1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. (Round"Per share" to 2 decimal places.)

Stock Dividend is the issuance of shares by the company in the form of a dividend to the existing…

Answered: Calgate Company had the following…

FINANCIAL ACCOUNTING

10th Edition

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Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Selected data for Adams Company for Year 3 follows: Earnings (net income) $ 184,000 Preferred stock (13,000 shares at $50 par, 6%) $ 650,000 Common stock (44,000 shares no par, market value $47) 517,000 Retained earnings 570,500 1,737,500 Less: Treasury stock Preferred (1,600 shares) $ 52,000 Common (1,600 shares) 27,000 79,000 Total stockholders' equity $ 1,658,500 Required a. Calculate the following ratios for Adams Company. Note: Round intermediate calculations and final answers to 2 decimal places. Earning per share price earning ratio return on equity
Murray Company reports net income of $855,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 290,000 shares. Compute its basic earnings per share. Choose Numerator: 1 Basic Earnings Per Share Choose Denominator: Basic EPS Basic EPS 0 per share
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income 600,000 550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $10,850,000 $10,000,000 Cost of merchandise sold 6,000,000 5,450,000 Gross profit $4,850,000 $4,550,000 Selling expenses $2,170,000 $2,000,000 Administrative expenses 1,627,500 1,500,000 Total operating expenses $3,797,500 $3,500,000 Income from operations $1,052,500 $1,050,000 Other revenue and expense: Other revenue…
Some of the account balances of Oriole Limited at December 31, 2022, are as follows: $8 Preferred shares (2,500 shares authorized, 2,500 shares issued and outstanding) Common shares (unlimited authorized, 44,000 shares issued and outstanding) Contributed surplus Retained earnings Accumulated other comprehensive income $480,000 560,000 109,000 (a1) 796,000 23,885 The price of the company's common shares has been increasing steadily on the market; it was $23 on January 1, 2023, and advanced to $26 by July 1 and to $29 at the end of 2023. The preferred shares are not openly traded but were appraised at $122 per share during 2023. Oriole follows IFRS and had net income of $148,000 during 2023. For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April 1. Each common shareholder was to receive one share of Pharoah Corp. for every 11 shares outstanding. Oriole had 8,500 shares of Pharoah (2% of the…
Tezos Co. reported the following capital structure at the beginning of the current year: Ordinary share capital, 200,000 shares issued and outstanding; Preference share capital, 50,000 shares issued and outstanding On January 3, the company declared at 10% share dividend on ordinary shares and a P200,000 cash dividend on preference shares. The preference shares are non-cumulative, non-participating. At the end of the current year, net income amounted to P1.92 million. What is the appropriate amount to report as basic earnings per share?
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Calgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $20; outstanding, 11,600 shares) Common shares (outstanding, 46,000 shares) Retained earnings $ 232,000 680,000 160,000