On June 8, 2021, the board of directors of Peterson Manufacturing voted to distribute $3,140,000 to the firm's stockholders.If the firm has issued 200,000 shares of 4% preferred stock with a par value of $50 and 2,000,000 shares of common stock outstanding, calculate thefollowing. (Round all answers to the nearest cent.)1. Dividend per share of preferred stock:2. Dividend per share of common stock:$0$0X5

Dividend is the amount of return received by the shareholders of the entity. It is paid only after…

Answered: On June 8, 2021, the board of directors…

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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On November 23, 2023, the board of directors of Walker Bros Transportation Company voted to distribute $4,360,000 to the firm's stockhold If the firm has issued 75,000 shares of 4% preferred stock with a par value of $50 and 2.280,000 shares of common stock outstanding, calc (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: 2. Dividend per share of common stock: SA SO X
Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,550,000. In December 2023, Windsor declared its first dividend of $750,000. (a). (b) Your answer is incorrect. If the preferred stock is not cumulative, how much of the $750,000 would be paid to common stockholders? Common Stock Dividends $
General Mills is authorized to issue 13 million, $1 par common shares. During 2021, its first year of operations, General Mills had the following transactions: January 1 sold 11 million shares at $18 per share. June 3 purchased 5 million shares of treasury stock at $21 per share December 28 sold the 5 million shares of treasury stock at $23 per share What amount should General Mills report as additional paid-in capital in its December 31, 2021, balance sheet? Multiple Choice O O O $203 million $187 million $197 million $155 million
1. If sufficient dividends were declared in 2020, and assuming no dividends were declared in 2021, how much in dividends would common shareholders receive in 2022?
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 61,000 additional shares of $1 par value common stock for $58 per share. May 10 Purchases 5,600 shares of treasury stock for $61 per share. June 1 Declares a cash dividend of $1.80 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,800 shares of treasury stock purchased on May 10 for $66 per share. Required:Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record payment of the cash dividend declared on June 1. Options: No Journal Entry Required Accounts…
Stanley Company has 18,000 outstanding shares of $25 par, 6.25% preferred stock, and 22,000 shares of $3 par value common stock. The Board of Directors declared and paid the following dividends: $20,000 in 2021, $30,000 in 2022, and $200,000 in 2023. 1. 2. Calculate the total amount of dividends allocated to both preferred and common shareholders in 2023 for the following type of preferred stock: noncumulative and participating. Show calculations and label answers (yellow highlight). Same as above except calculate the dividends allocated to both preferred and common shareholders in 2023 for the following type of preferred stock: cumulative and nonparticipating. Show calculations and label answers (yellow highlight).
Question-based on, "Preferred/ common ". I have tried it. Any help would be appreciated.
On February 3, 2021, the board of directors of Thompson & Thompson Builders voted to distribute $4,020,000 to the firm's stockholders. If the firm has issued 100,000 shares of 6% preferred stock with a par value of $50 and 1,880,000 shares of common stock outstanding, calculate the following. (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: 2. Dividend per share of common stock: Explanation Check $0 ES
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The shareholders' equity of MLS Enterprises includes $100 million of no par common stock and $200 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $31 million in 2021 after paying $7 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Annual Preferred Dividend: 2019 2020 2021 Total $ Par Value Preferred Stock X Answer is complete but not entirely correct. Annual Preferred Dividend 200 Total Cash Dividend Paid 7,000,000 7,000,000 31,000,000 $ 45,000,000 $ Dividend Rate (%) 6.0 Paid to Preferred % 7,000,000 X 7,000,000 X 22,000,000 36,000,000 $ Paid to Common 12 0 0 9,000,000 9,000,000 Dividends in Arrears at year- end 5,000,000 X 10,000,000
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 45,000 additional shares of $1 par value common stock for $42 per share. May 10 Purchases 4,000 shares of treasury stock for $45 per share. June 1 Declares a cash dividend of $1.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,000 shares of treasury stock purchased on May 10 for $50 per share. Required:Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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