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 the following. (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: 2. Dividend per share of common stock: $0 $0 X S
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- On January 1, 2023, Ivanhoe Manufacturers had 246,000 common shares outstanding. On April 1, the corporation issued 24,600 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 11,700 of its own outstanding common shares to make them available for issuances related to its key executives' outstanding stock options. × Your answer is incorrect. Calculate the weighted average number of shares outstanding as at December 31, 2023. (Round answer to O decimal places, e.g. 5,255.) Weighted average number of shares outstanding 262500 sharesPower 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 2024. Power Drive has the following transactions affecting stockholders' equity in 2024. March 1 Issues 64,000 additional shares of $1 par value common stock for $61 per share. May 10 Purchases 5,900 shares of treasury stock for $64 per share. June 1 Declares a cash dividend of $1.95 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 2,950 shares of treasury stock purchased on May 10 for $69 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, $100,000; Additional Paid-in Capital, $5,400,000; and Retained Earnings, $2,900,000. Net income for the year ended December 31, 2024, is $690,000.On April 1, 2019, Kelly Corporation began operations and authorized 100,000 shares of $5 par value common stock. The company engaged in the following transactions:April 1 Issued 20,000 shares of common stock for $200,000.April 15 Issued 10,000 shares of common stock for $125,000.May 12 Purchased 2,500 shares of common stock for $75,000.June 30 The board of directors declared a $0.20 per share cash dividend to be paid on July 15 to shareholders of record on July 51. Prepare journal entries for the above transactions.2. Prepared the stockholders’ equity section of Kelly Corporation’s balance sheet as of June 30, 2019. Net income for the period April 1 through June 30 was $150,000.3. What effect, if any, will the cash dividend declaration on June 30 have on Kelly Corporation’s net income, retained earnings, and cash flows?
- Suppose a corporation has the following shares outstanding: 1. $800,000 in 6% Preferred Stock ($100 par value) 2. $3,200,000 in Common Stock ($10 par value) No dividends were declared for the years 2020 and 2021. Two scenarios are presented below and each is independent of each other. Scenario 1: As of December 31, 2022, a dividend of $250,000 is declared. Indicate the amount that the preferred shareholders will receive if the share is cumulative and non-participating (cumulative and non-participating). Answer: Scenario 2: As of December 31, 2022, a dividend of $800,000 is declared. Indicate the amount that the preferred shareholders will receive if the share is cumulative and non-participating up to 11% in total (cumulative and non-participating). Answer:Please help me to solve this problemPower 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 2024. Power Drive has the following transactions affecting stockholders' equity in 2024. March 1 May 10 June 1 Issues 45,000 additional shares of $1 par value common stock for $42 per share. Purchases 4,000 shares of treasury stock for $45 per share. 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.) Pays the cash dividend declared on June 1. July 1 October 21 Resells 2,000 shares of treasury stock purchased on May 10 for $50 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, $100,000; Additional Paid-in Capital, $3,500,000; and Retained Earnings, $1,000,000. Net income for the year ended December 31, 2024, is $500,000. Required: Prepare the…
- On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 24,000 shares of common stock on the open market as treasury stock for $35 per share. Li-Wu sold 6,000 treasury shares on September 30, 2024, for $37 per share. Net income for 2024 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key executives the option to buy 50,000 common shares at $40. The market price of the common shares averaged $39 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Basic Diluted Earnings per sharePlease help me. Thankyou.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 2024. Power Drive has the following transactions affecting stockholders' equity in 2024. March 1 Issues 53,000 additional shares of $1 par value common stock for $50 per share. Purchases 4,800 shares of treasury stock for $53 per share. Declares a cash dividend of $1.40 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.). May 10 June 1 July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,400 shares of treasury stock purchased on May 10 for $58 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, $100,000; Additional Paid-in Capital, $4,300,000; and Retained Earnings, $1,800,000. Net income for the year ended December 31, 2024, is $580,000. Required: Prepare the…