Hoyt Corp.'s current balance sheet reports the following equity:5% cumulative preferred stock, par value $100per share; 2,500 shares issued andoutstandingCommon stock, par value $3.50 per share;100,000 shares issued and outstandingAdditional paid-in capital in excess of par valueof common stockRetained earningsAccumulated other comprehensive incomeDividends in arrears on the preferred stock amount to $25,000. If Hoyt were to be liquidated, the preferred shareholderswould receive par value plus a premium of $50,000. The book value per share of common stock is$250,000350,000125,000300,000100,000

Book value per share: This is a financial ratio that measures the value of shareholders’ equity…

Answered: Hoyt Corp.'s current balance sheet…

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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The stockholders’ equity section of Green Grass Corp showed the following: Preferred Stock, 6%, $25 par, 11,000 shares issued & outstanding$ 275,000 Common Stock, $20 par, 123,750 shares issued & outstanding$2,475,000 Additional Paid-in Capital in Excess of Par$ 350,000 Retained Earnings$1,900,000 The preferred stock is cumulative, participating and 4 years in arrears. A $380,000 cash dividend is declared. Required: Determine how much of the dividend will be paid to the preferred and common stockholders. Preferred Stockholders: _______________Common Stockholders: ________________
The equity section of Windsor SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 94,600 shares, outstanding 84,600 shares) Share capital-ordinary (R$1 par, authorized and issued 10,000,000 shares) Share premium-ordinary Retained earnings Net income Earnings Per Share: Income from continuing operations Discontinued operations, net of tax R$125,960,000 Net income 31,020,000 R$ R$4,230,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$11,280,000 (before tax) as a result of discontinued operations. Preference dividends of R$253,800 were declared and paid in 2022. Dividends of R$ 940,000 were declared and paid to ordinary shareholders in 2022. 10,000,000 Compute earnings per share data as it should appear on the income statement of Windsor SA. (Round answers to 2 decimal places, e.g. 1.48.) 19,270,000 156,980,000 R$190,480,000
At the beginning of the current year , Flash Company had retained earnings of P4,000,000 . During the year , the entity reported net income of P2,000,000 , sold treasury shares at a " gain " of P720,000 , declared a cash dividend of P1,200,000 , and declared and issued a small share dividend of 60,000 shares with P10 par value when the fair value of the share was P20 . What is the amount of retained earnings available for dividends at the end of the current year ? a. 3,600,000 b. 4,200,000 c. 4,320,000 d. 4,920,000
The outstanding capital stock of Oriole Corporation consists of 1,900 shares of $100 par value, 8% preferred, and 4,700 shares of $50 par value common. Assuming that the company has retained earnings of $89,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. a. The preferred stock is noncumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) Preferred b. The preferred stock is cumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) EA Preferred Common c. The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to O decimal places, e.g. 38,487.) Preferred LA Common Common
Just prior to the end of the fiscal year, Biofuel Corporation reported the following information: Common stock ($0.20 par value) Additional paid-in capital $ 70,000 2,000,000 900,000 Retained earnings Treasury stock Cash flows from financing activities Required: Complete the table below for each of the three following independent cases: Note: Round "Par per share" answers to 2 decimal places. Case 1: The board of directors declared a cash dividend of $0.02 per share. Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $12 per share. Case 3: The board of directors announced 2-for-1 stock split. The market price prior to the split was $20 per share. Items After Stock Dividend Common stock account Par value per share Shares outstanding Additional paid-in capital Retained earnings Total stockholders' equity Cash flows from financing activities Before Any Dividends $ $ $ $ $ 0 24,000 70,000 $ 0.2 2,000,000 900,000 24,000 After Cash…
The J3 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, non-cumulative and fully participating, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared. How much dividends will be received by the preference shares holders? *
At the beginning of the current year, BFAR Company had Accumulated Profits of P4,000,000. During the year, the entity reported a net income of P2,000,000. The entity declared a cash dividend of P1,200,000. . Declared and issued small share dividends of 60,000 shares with a par value of P10 par when the fair market value was P20. Compute the balance of Accumulated Profits for dividends at the end of the current year. ● ●
Ute Company reported the following capital structure during the current year: 5% cumulative preference share capital, par value P100, 25,000 shares issued and outstanding Ordinary Share capital, par value P35, 100,000 shares issued and outstanding The entity reported net income of P5,000,000 for the current year. The entity paid P125,000 in preference dividends in the current year. 7. What amount should be reported as the basic earnings per share? a. 48.75 b. 50.00 c. 51.25 2,500,000 3,500,000

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