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Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 6% 2,000 shares issued and outstanding Common stock, $10 par 40,000 shares issued and outstanding Additional paid-in capital Total contributed capital Retained earnings $1,100,000 900,000 Total stockholders' equity $2,000,000 The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $126,000 for 2017. Required: Determine the total and the per-share amounts that should be declared to the preferred and common stockholders under the following assumptions: 1. The preferred stock is noncumulative, nonparticipating. 2. The preferred stock is cumulative, nonparticipating. Round per share amounts to the nearest cent. Total Preferred Dividends Per Share Amount Total Common Dividends Per Share Amount 1. $200,000 2. 400,000 500,000

Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 6% 2,000 shares issued and outstanding Common stock, $10 par 40,000 shares issued and outstanding Additional paid-in capital Total contributed capital Retained earnings $1,100,000 900,000 Total stockholders' equity $2,000,000 The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $126,000 for 2017. Required: Determine the total and the per-share amounts that should be declared to the preferred and common stockholders under the following assumptions: 1. The preferred stock is noncumulative, nonparticipating. 2. The preferred stock is cumulative, nonparticipating. Round per share amounts to the nearest cent. Total Preferred Dividends Per Share Amount Total Common Dividends Per Share Amount 1. $200,000 2. 400,000 500,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 6% 2,000 shares issued and outstanding Common stock, $10 par 40,000 shares issued and outstanding Additional paid-in capital Total contributed capital Retained earnings $200,000 400,000 500,000 Total stockholders' equity The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $126,000 for 2017. 1. $1,100,000 900,000 $2,000,000 Required: Determine the total and the per-share amounts that should be declared to the preferred and common stockholders under the following assumptions: 1. The preferred stock is noncumulative, nonparticipating. 2. The preferred stock is cumulative, nonparticipating. 2. Round per share amounts to the nearest cent. Total Preferred Dividends Per Share Amount Total Common Dividends Per Share Amount
Transcribed Image Text:Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 6% 2,000 shares issued and outstanding Common stock, $10 par 40,000 shares issued and outstanding Additional paid-in capital Total contributed capital Retained earnings $200,000 400,000 500,000 Total stockholders' equity The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $126,000 for 2017. 1. $1,100,000 900,000 $2,000,000 Required: Determine the total and the per-share amounts that should be declared to the preferred and common stockholders under the following assumptions: 1. The preferred stock is noncumulative, nonparticipating. 2. The preferred stock is cumulative, nonparticipating. 2. Round per share amounts to the nearest cent. Total Preferred Dividends Per Share Amount Total Common Dividends Per Share Amount
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