Cumulative Preferred Dividends Capital stock of Barr Company Includes: Common stock, $5 par, 650,000 shares outstanding Preferred stock, 15% cumulative, $60 par, 10,000 shares outstanding As of December 31, 2018, 2 years dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total $230,000. $3,250,000 600,000 Required: If an answer is zero, enter "0 1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2019. Total dividend to preferred stockholders Total dividend to common stockholders 2. If Barr paid $304,000 of dividends, determine how much each group of stockholders would receive. Total dividend to preferred stockholders Total dividend to common stockholders

Cumulative Preferred Dividends Capital stock of Barr Company Includes: Common stock, $5 par, 650,000 shares outstanding Preferred stock, 15% cumulative, $60 par, 10,000 shares outstanding As of December 31, 2018, 2 years dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total $230,000. $3,250,000 600,000 Required: If an answer is zero, enter "0 1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2019. Total dividend to preferred stockholders Total dividend to common stockholders 2. If Barr paid $304,000 of dividends, determine how much each group of stockholders would receive. Total dividend to preferred stockholders Total dividend to common stockholders

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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Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *All shares were issued during 2018. 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
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1. statement of changes in equity for the year 2020 2. statement of financial position
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what are the dividends allocated to common stock? check pic
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On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
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