Oceanic Company has 20,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $5 par common stock. Thefollowing amounts were distributed as dividends:20Y120Y220Y3Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If ananswer is zero, enter '0'.20Y120Y220Y3$180,00072,000270,000Preferred Stock(dividends per share)$3.60Common Stock(dividends per share)$$

Dividend -A dividend is the portion of profits and retained earnings that a business gives to its…

Answered: Oceanic Company has 20,000 shares of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Morrison Corporation had the following common stock record during the current calendar year: Outstanding-January 1 Additional shares issued 3/31 Distributed a 10% stock dividend on 6/30 Additional shares issued 9/30 What is the number of shares to be used in computing basic EPS? Multiple Choce 2.110.000 2.326.550 2,110,000 111,000 2,440.325 111,000
Cajun Company has outstanding 2,500 shares of $100 par, 6% preferred stock and 15,000 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278 %. Round answers to 2 decimal places, e.g. 6.85.) Year 2023 2024 Paid- out $13,000 $ $26,000 $ 2025 $57,000 $ 2026 $76,000 $ (a) Preferred, noncumulative, and nonparticipating Preferred 69 $ $ 69 $ $ Common Assumptions $ 69 $ $ 69 $ 60 Preferred (b) Preferred, cumulativ and fully participatin 69 $ $ 69 $ 69 14 $
Dividends Per Share Seacrest Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $56,300 20Y2 9,000 20Y3 67,500 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 $fill in the blank 1 $fill in the blank 2 20Y2 $fill in the blank 3 $fill in the blank 4 20Y3 $fill in the blank 5 $fill in the blank 6
Taiwanese Company has 5,000shares of 4% cumulative preferred stock of $40 par and 10,000 shares of $90 par common stock. The following amounts were distributed as dividends: Year 1 $15,000 Year 2 5,000 Year 3 62,000 Determine the dividends per share for preferred and common stock for each year.
1. Prepare the journal entry to record Tamas Company’s issuance of 5,800 shares of $100 par value, 6% cumulative preferred stock for $104 cash per share.2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend %
Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1 $10,000 Year 2 45,000 Year 3 90,000 Determine the dividends per share for preferred and common stock for the first year. a.$0.50 and $0 b.$0.50 and $0.10 c.$0 and $0.10 d.$2.00 and $0
Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1: $10,000 Year 2: $45,000 Year 3: $90,000 Determine the dividends per share for preferred and common stock for the first year. O $0.50 and $0.10. O $0.00 and $0.10. O $0.50 and $0.00. O $2.00 and $0.00.
Dividend Per Share Windborn Company has 25,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 10,000 Year 3 75,000 Determine the dividend per share for preferred and common stock for each year. Round all answers to two decimal places. If an amount box does not require an entry, leave it blank. Year 1 Year 2 Year 3 Preferred stock (Dividend per share) $ $ $ $ Common stock (Dividend per share) $ $
Reinhardt furniture company has 40000 shares of cumulative preferred 2% stock, $150 par and 100000 shares of $5 par common stock. The following amounts were distributed as dividends: Year 1 $70000 Year 2 $200000 Year 3 $320000 Determine the dividends per share for preferred and common stock for each year. If the answer is zero, enter ' 0' round all the answers to two decimal places.
in the following table. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round per share amounts to the nearest cent when rounding is required. If an answer is zero, enter "0". A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cumulative | in the following table. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round per share amounts to the nearest cent when rounding is required. If an answer is zero, enter "0". Preferred Year Dividends Total Per Share 1 $10,000 2 25,000 3 60,000 Common Total Per Share
Texas Inc. has 9,000 shares of 8%, $125 par value cumulative preferred stock and 87,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $80.00 per share b. $6,960 in total c. $90,000 in total d. $0.01 per share
Ab. 156.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS