crane, Inc., has 4600 shares of 5%, $100 par value, cumulative preferred stock and 36800 shares of $1 par valu common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $45400
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- Manner, Inc. has 5,000 shares of 6%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $55,000 dividend in 2018. What is the amount of dividends received by the common stockholders in 2018? Note: show calculation. Essay Toolbar navigation I UMechforce, Incorporated had net income of $171,200 for the year ended December 31, 2022. At the beginning of the year, 16,000 shares of common stock were outstanding. On April 1, an additional 17,000 shares were issued. On October 1, the company purchased 6,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Mechforce paid the annual dividend on the 8,000 shares of 3.35%, $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2022. Note: Do not round intermediate calculations. Round your answer to 2 decimal places.Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock. During 2020, Overland Corporation took part in the following selected transactions. Prepare journal entry(entries) for following independent event. a. Purchased 6,000 shares of treasury stock at $70 per share. The treksury shares purchased were issued in 2018 at $46 per share. Assuming Overland uses the retirement method to prepare entry and before this transaction the company had $100,000 credit balance of Paid-in capital- shares repurchase and $800,000 retained earnings b. The board votes a 4-for-1 stock split. At the date, the market value is $80 c. The board votes a 150% stock dividend. At the date, the market value is $80, assuming the company treats the distribution as "large" stock dividends effected in the form of a stock dividend and before this transaction the company has 54,000 shares of common stock
- Marigold Corp. had 307000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Marigold issued 395000 shares of nonconvertible preferred stock. During 2021, Marigold declared and paid $174000 cash dividends on the common stock and $154000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $959000. What should be Marigold's 2021 earnings per common share, rounded to the nearest penny? $2.62 $3.12 $1.07 $2.06Mustang 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 youCarlos Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock (par $1; outstanding, 400,000 shares) Preferred Stock, 9% (par $10; outstanding, 18,100 shares) Retained Earnings $ 400,000 181,000 957,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017. Three independent cases are assumed: The preferred stock is noncumulative; the total amount of 2018 dividends would be $18,000. The preferred stock is cumulative; the total amount of 2018 dividends would be $15,000. Dividends were not in arrears prior to 2016. Same as Case B, except the amount is $58,000. Case A: Case B: Case C: Required: 1-a. Compute the amount of 2018 dividends, in total, that would be payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of 2018 dividends per share payable to…
- Blue Spruce Corp. has 15000 shares of 5%, $100 par value, cumulative preferred stock and 30000 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $135000 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020?Vaughn Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,720,000 shares of $10 par common stock. At no time has Vaughn issued any potentially dilutive securities. Listed below is a summary of Vaughn's common stock activities. 1. 2. 3. 4. rol (b) Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 A 2-for-1 stock split of Vaughn's common stock took place on March 31, 2021 Your answer is incorrect. 1,910,000 191,000 1,830,000 3,931,000 Compute the weighted average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement. LICERitz Company had the following stock outstanding and Retained Earnings at December 31, 2021: $ 570,000 Common stock (par $1; issued and outstanding, 570,000 shares) Preferred stock, 9% (par $10; issued and outstanding, 21,700 shares) Retained Earnings 217,000 907,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total amount of 2021 dividends would be $37,000. Case B: The preferred stock is cumulative; the total amount of 2021 dividends would be $37,000. Dividends were not in arrears prior to 2019. Case C: Same as Case B, except the amount is $82,000. Required: 1-a. Compute the amount of dividends in total payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of dividends per share payable to each…
- Concord Corporation has 1,000,000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 625,000 shares issued and outstanding. On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2020. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) (c) Debit CreditDuring the year ended December 31, 2020, Gluco Inc. split its stock on a 3-for-1 basis. In its annual report for 2019, the firm reported net income of $987,900 for 2019, with an average 295,000 shares of common stock outstanding for that year. There was no preferred stock.Required: What amount of net income for 2019 will be reported in Gluco's 2020 annual report? Calculate Gluco's earnings per share for 2019 that would have been reported in the 2019 annual report. (Round your answer to 2 decimal places.) Calculate Gluco's earnings per share for 2019 that will be reported in the 2020 annual report for comparative purposes. Net Income ? Earnings Per Share ? Earnings Per Share ?Crane, Inc. has $500,000, $0.80, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $582,500 in dividends on December 31, 2023. Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common Total dividends $ $ Save for Lat
