Cash DividendsKerry Company has 700 shares of $100 par value, 11% preferred stock and 9,200 shares of $10 par value common stock outstanding. The preferred stock iscumulative and nonparticipating. Dividends were paid in 2012. Since 2012, Kerry has declared and paid dividends as follows:2013201420152016Required:1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2014 to 2016. If an amount is zero, enter"0"YearCommon DividendsPreferred Dividends201420152016508,50016,90021,3002015201685002. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?Preferred DividendsCommon DividendsYear20147.700 X

Dividend is the amount of return paid by the entity to its shareholders. It is paid out of the…

Answered: Kerry Company has 700 shares of $100…

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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Luther Inc., has 4,000 shares of 5%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2018, and December 31, 2017. The board of directors declared and paid an $8,000 dividend in 2017. In 2018, $40,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2018? A. $28,000 B. $12,000 C. $20,000 D. $10,000
The shareholders’ equity of Proactive Solutions, Inc., included the following at December 31, 2016: Common stock, $1 par Paid-in capital—excess of par on common stock 7% cumulative convertible preferred stock, $100 par value Paid-in capital—excess of par on preferred stock Retained earnings Additional Information: • Proactive had 7 million shares of preferred stock authorized of which 2 million were outstanding. All 2 million shares outstanding were issued in 2010 for $112 a share. The preferred stock is convertible into common stock on a two-for-one basis until December 31, 2018, after which the preferred stock no longer is convertible. None of the preferred stock has been converted into common stock at December 31, 2016. There were no dividends in arrears. • Of the 13 million common shares authorized, there were 8 million shares outstanding at January 1, 2016. Proactive also sold 3 million shares at the beginning of September 2016 at a price of $52 a share. • The company has an…
The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…
Marutzky Corporation had a net income of $2,200,000 for the year 2018. On January 1, 2018, the corporation had 300,000 shares of common stock outstanding and issued an additional 250,000 shares of common stock on October 1, 2018. Calculate the earnings per shares using the weighted-average number of common shares outstanding.
Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50 par value, six percent, cumulative preferred stock and 90,000 shares of $10 par value common stock. Through the end of 2018, there had been no change in the number of preferred and common shares outstanding. Assume that Chauncey declared dividends of $0 in 2016, $120,000 in 2017, and $186,000 in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018. Round to two decimal places.
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1. Compute Tidepool's EPS for the year. 2. Assume Tidepool's market price of a share of common stock is $ 7 per share Compute Tidepool's price / earnings ratio Tidepool Corp. earned net income of $133,340 and paid the minimum dividend to preferred stockholders for 2018. Assume that there are no changes in common shares outstanding during 2018. Tidepool's books include the following figures
Analyzing and Interpreting Stockholders' Equity and EPS Following is the stockholders' equity section of the balance sheet for The Procter & Gamble Company along with selected earnings and dividend data. For simplicity, balances for noncontrolling interests have been left out of income and shareholders' equity information. $ millions except per share amounts 2014 2013 Net earnings attributable to Procter & Gamble shareholders $11,156 $11,797 Common dividends 5,883 5,534 Preferred dividends 256 233 Basic net earnings per common share $3.82 $4.12 Diluted net earnings per common share $3.66 $3.93 Shareholders' equity: Convertible class A preferred stock, stated value $1 per share $1,195 $1,234 Common stock, stated value $1 per share 4,008 4,008 Additional paid-in capital 63,181 62,405 Treasury stock, at cost (shares held: 2014--1261.2; 2013--1243) (69,604) (67,278) Retained earnings 75,349 70,682 Accumulated other comprehensive income/(loss) (9,333) (2,054) Other (761) (996) Shareholders'…
BMS Ltd. had 2,200,000 average shares outstanding during all of 2017. During 2017, BMS also had 50,000 options outstanding with exercise prices of $17 each. The average stock price of BMS during 2017 was $21. This company also had 1,000 shares of preferred stock outstanding (10%. $100 par value) for the entire year, which are each convertible into 20 shares of common stock. If net income of the company was 500,000, what is the diluted earnings per share for 2017? A. $0.224 B. $0.220 C. $0.226 D. $0.225
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On its Form 10-K for the year ended December 31, 2018, Bank of America Corp. reported information related to basic earnings per share.Fill in the missing information. Rounding instruction: Round answer a. to two decimal places.Round answer b., c., & d. to the nearest million.Round answer e. to one decimal place. $ millions, except per share amounts 2018 2017 2016 Net income $28,147 $18,232 d. Answer Preferred stock dividends 1,451 b. Answer $1,682 Net income applicable to common shareholders 26,696 c. Answer $16,140 Average common shares outstanding 10,096.5 10,195.6 e. Answer Basic earnings per share a. Answer $1.63 $1.57

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