A company's outstanding stock consists of the following:• 34,000 shares of cumulative 8% preferred stock with a $10 par value.●167,000 shares of common stock with a $2 par value.During its first three years of operation, the company declared and paid the following total cash dividends. Determine the amount ofdividends paid each year to each of the two classes of stockholders: preferred and common.Year 1 total cash dividendsYear 2 total cash dividendsYear 3 total cash dividendsYear 1Year 2Year 3Total:Total CashDividend Paid$19,70046,00061,700127,400Paid toPreferred$ 19,700$ 46,000$ 61,700Paid toCommonDividends inArrears atyear-end

Common Stock -Common stock, often known as shares, is a tiny portion of an organisation that…

Answered: company's outstanding stock consists of…

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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Sandpiper Company has 30,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: Year 1 $225,000 Year 2 45,000 Year 3 270,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ $ $ Common stock (Dividends per share)
Sanchez Company has 38,000 shares of 5% preferred stock of $100 par and 112,000 shares of $50 par common stock issued and outstanding. The following amounts were distributed as dividends: Year 1 $538,000 Year 2 $440,000 Year 3 $510,000 Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent. Year 1 Year 2 Year 3 Amount distributed $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Preferred dividend $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 Common dividend $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Dividends per share: Preferred stock $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Common stock $fill in the blank 13 $fill in the blank 14 $fill in the blank 15
View Policies Current Attempt in Progress On January 1, Swifty Corporation had 71000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $14 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O debit to Common Stock Dividends Distributable for $149100. O debit to Stock Dividends for $42600. O credit to Paid-in Capital in Excess of Par for $42600. O credit to Common Stock for $106500. Save for Later Attempts: 0 of 1 used Submit Answer
Dividends per share The Ted Williams Corporation has the following stock outstanding: 100,000 shares of cumulative preferred 5% stock with a $12 par value 300,000 shares of common stock with a $1 par value During the first five years of operations the company paid the following cash dividends: Year 1 $- Year 2 $25,000 Year 3 $85,000 Year 4 $110,000 Year 5 $130,000 Required: 1. Determine the dividend payouts to each class of stock for the five years. SUMMARY OF DIVIDENDS Total Preferred Dividends Common…
Compute book value per share of common stock using the following info: 8% cumultive preferred stock, $100par $230,000 Common stock, $5 par authorized 100,000 issued 60,000 $300,000 Additional paid in capital $440,000 Deficit amount $146,800 Dividends in arrears on preferred stock 1 full year $18,400
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QUESTION 8 Kaldi Company has 20.000 shares of $10 par value, 5% cumulative preferred stock and 200,000 shares of $20 par value common stock outstanding. The company paid total cash dividends of $8,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: OA S10.000. O B. $12,000. OC. $8.000. O D. $2.000.
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Problem 6: Treasury Shares year 20x1: Valientes Corporation reported the shareholders. Equity at the beginning of the Ordinary share, P10 par, outstanding 225,000 shares Share Premium Retained Earnings 2,250,000 1,500,000 2,000,000 During the year, the entity had the following treasury shares transactions: Acquired 10,000 treasury shares for P500,000. Sold 5,000 treasury shares at P60 per share - Sold 2,000 treasury shares at P45 per share. Required: a. Prepare the journal entries b. Prepare the shareholders' equity at the end of the year
Problem 2. On January 1 Weiss Corporation had 75,000 shares of $0.5 par value common stock issued and outstanding. During the year, the following transactions occurred. Apr. 1 Issued 8,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. July 10 Dec. 1 Issued 4,000 additional shares of common stock for $12 per share. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Instructions (a) Prepare the entries for the above transactions. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?
Dividends Per Share Seacrest Company has 25,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 20,000 Year 3 75,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ $ $ Common stock (Dividends per share) $ $ $
A-7

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