Oriole had 9,400 shares of 3%, $8 par value preferred stock and 55,000 shares of $0.50 par value common stock outstandingthroughout 2014. Total dividends declared in 2014 were $9,400. The preferred stock is cumulative with no dividends paid during2012 and 2013.Determine the amount of dividends to be paid to the common and preferred stockholders in 2014.Common stockholders$Preferred stockholders $

As given in the question 3% of preferred stock is cumulative, so the company has to pay the arrear…

Answered: Oriole had 9,400 shares of 3%, $8 par…

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

Divac Company has developed a statement of stockholders' equity for the year 2017 as follows: Preferred Stock Paid-InCapital—Preferred Common Stock Paid-InCapital—Common Retained Earnings Balance, Jan. 1 $100,000 $50,000 $400,000 $40,000 $200,000 Stock issued 100,000 10,000 Net income 87,000 Cash dividend -45,000 Stock dividend 10,000 5,000 -15,000 Balance, Dec. 31 $110,000 $55,000 $500,000 $50,000 $227,000 Divac’s preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $5 per share. Assume that the common stockholders have a right to the total net income of $87,000. Determine the book value per share of Divac’s common stock. Round the book value per share to two decimals.$fill in the blank_____ per share
Question: The following information is from the balance sheet of Tudor Corporation as of December 31, 2014. Preferred stock, $100 par $500,000 Paid-in capital in excess of par - preferred 35,000 Common stock, $1 par 190,000 Paid-in capital in excess of par - common 380,000 Retained earnings 131,500 Total stockholders' equity $1,236,500 What was the average issue price of the common stock shares? A. $1.00 B. $3.00 C. $13.15 D. $1.90
Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *All shares were issued during 2018. 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
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…
Calculate weighted avg common stock outstanding and basic eps for year ended December 31, 2016. Corporation December 31, 2016. information: 1. authorized to issue 10,000,000 shares of $10 par value common stock. January 1, 2016, 1,500,000 shares of common stock issued and outstanding. also authorized to issue 2,000,000 shares of 5% $100 par value cumulative preferred stock. January 1, 2016, 400,000 shares of cumulative preferred stock issued and outstanding. net income 2016 - 13,480,000 during 2016:January 1 – a 15% stock dividend February 1—250,000 shares of common stock issued toexecutive employees as restricted stock compensation.market value on grant date - $25 per share.April 1— A 10% common stock dividendJuly 1— 300,000 shares common stock issued for a factory building.September - 2-for-1 split common stockOctober 1—f 50,000 shares common stockpurchased on market at $8 per share. to be held as treasury stock and still in the treasury as of December 31, 2016.Common stock cash…
On January 1, 2013, Warhol Company issued 2 comma 000 shares of 10, $ 110 par value, cumulative preferred stock for $ 100 comma 000 On December 30, 2015, the Board declared dividends of $ 30 per share on the preferred stock What journal entry is necessary for the declaration of dividends
On January 1, 2012, a company issued 10,000 shares of 10%, $10 par value cumulative preferred stock. No dividends were declared in 2012 or 2013. In 2014, the company declared a dividend of $200,000. How much of the 2014 dividend represents 2012 dividends? a $170,000 b $30,000 c $100,000 d $10,000
FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV declared the annual cash dividend on its 5% preferred stock (par value, $115,000) and a $0.50 per share cash dividend on its common stock (55,000 shares). FV then paid the dividends on January 4, 2013. Journalize for FV: Declaring the cash dividends on December 15, 2012. Paying the cash dividends on January 4, 2013.
On January 1, 2011 a company had the following data: - issued 10,000 shares of $2.00 par value common stock for $12.00 per share - issued 3,000 shares of $50 par value 6% cumulative preferred stock for $70 per share - purchased 1,000 shares of previously issued common stock for $15.00 per share The company had the following dividend information available: 2011 - No dividend paid 2012 - Paid a $2,000 total dividend 2013 - Paid a $17,000 total dividend 2014 - paid a $32,000 total dividend Using the following format, fill in the correct values for each year; 2011 2012 2013 2014 Common stock dividend Preferred stock dividend Dividends in arrears Preferred Dividend per Share Common Dividend per Share
Do not give answer in image

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