York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5par value and also 200,000 shares of common stock with a $1 par value. During its first four years ofoperation, the corporation declared and paid the following total cash dividends:Year 1 total cash dividendsYear 2 total cash dividendsYear 3 total cash dividendsYear 4 total cash dividends$20,00028,000200,000350,000PreferredShares80,000PreferredDividend %7.5%Required:Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.(Use cells A2 to K9 from the given information to complete this question.)PreferredPar Value$5Common CommonShares Par Value200,000$1 Required:Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.(Use cells A2 to K9 from the given information to complete this question.)Annual Preferred Dividend:Year 1Year 2Year 3Year 4Total:Par Value perPreferredShareTotal CashDividend Paid$20,00028,000200,000350,000$598,000DividendRatePaid toPreferredDividend per Number ofPreferredSharesPreferredSharePaid toCommonDividends inArrears atyear-endPreferredDividend

Solution:- Determination of the amount of dividend to each year to each of two class of shareholders…

Answered: ork's outstanding stock consists of…

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 July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000 authorized shares, 165,000 issued and outstanding $ 165,000 Additional Paid-in Capital 109,000 Retained Earnings 189,000 Treasury Stock None Required:Complete the following table based on two independent cases involving stock transactions: (Round "per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 100 percent stock dividend when the stock price was $6 per share. Case 2: The board of directors voted a 2-for-1 stock split. The stock price prior to the split was $6 per share.
Halverstein Company's outstanding stock consists of 10,850 shares of cumulative 5% preferred stock with a $10 par value and 4,650 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 0 Year 2 $ 9,300 Year 3 $ 40,000 The amount of dividends paid to preferred and common shareholders in Year 2 is:
The following Information pertains to JAE Corporation at January 1, Year 1. Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. Required Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below. Req D $20,000 15,000 82,000 Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts be indicated with minus sign.) Stockholders' equity Common stock Total paid-in capital Retained earnings Total stockholders' equity
The outstanding share capital of KTI Corporation consists of 2,950 preferred shares and 7,000 common shayes for which $280,000 was received. The preferred shares carry a dividend of $7 per share and have $100 stated value. Instructions: Assuming that the company has retained earnings of $95,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the two years preceding the current year, state how much each class of shares should receive under each of the following conditions. a. The preferred shares are cumulative and non-participating. b. The preferred shares are cumulative and participating. Do not round intermediate calculations but round answer to nearest dollar.
The stockholders' equity of Blue Corporation includes $300,000 of S1 par common stock and $500,000 par of 5% cumulative preferred stock. In its first year of operations, cash dividends of $20,000 were declared. In its second year of operations, cash dividends of $15,000 were declared. Now in its third year, cash dividends of $100,000 are declared. How much of the $100,000 year three dividends will preferred stockholders receive? Multiple Choice $25,000 $15,000 $40,000 $35,000
[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends York's outstanding stock consists of 60,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 170,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share Total Cash Dividend Paid $ $ $10,700 20,500 290,000 440,000 Dividend Rate 10,700 20,500 290,000 440,000 761,200 $ Paid to Preferred Dividend per Preferred Share 0 $ Paid to Common 0 Number of Preferred Shares Dividends in Arrears at year-end Preferred Dividend
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The outstanding capital stock of Oriole Corporation consists of 1,900 shares of $100 par value, 8% preferred, and 4,700 shares of $50 par value common. Assuming that the company has retained earnings of $89,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. a. The preferred stock is noncumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) Preferred b. The preferred stock is cumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) EA Preferred Common c. The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to O decimal places, e.g. 38,487.) Preferred LA Common Common
Tezos Co. reported the following capital structure at the beginning of the current year: Ordinary share capital, 200,000 shares issued and outstanding; Preference share capital, 50,000 shares issued and outstanding On January 3, the company declared at 10% share dividend on ordinary shares and a P200,000 cash dividend on preference shares. The preference shares are non-cumulative, non-participating. At the end of the current year, net income amounted to P1.92 million. What is the appropriate amount to report as basic earnings per share?
1.Comfort Mattresses, Inc. sold 26,000 shares of its P1 par value common stock at a cash price of 12 per share. The entry to record this transaction would be? 2.Fargo Company's outstanding stock consists of 400 shares of noncumulative 5% preferred stock with a 10 par value and 3,000 shares of common stock with a 1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividend Declared year 1 P 20,000 year 2 P 6,000 year 3 P 32,000 The amount of dividends paid to preferred and common shareholders in year 1 is:
Sabik Corporation has 10.500 shares of 8%. $50 par value, cumulative preferred stock outstanding as well as 20,000 shares of $10 par value common stock issued and 5,000 shares of common stock repurchased as treasury stock at the end of the third year of operations. During the first, second, and third years of operations, $5,000 $50,000, and $90,000 in dividends, respectively, were paid. The dividends per share paid to the common stockholders of Sabik Corporation in year three amounted to (round to the nearest penny): $3.20. $0.95. $1.27. $2.40. None of the above.
Sweet Company’s outstanding stock consists of 1,700 shares of cumulative 5% preferred stock with a $100 par value and 10,700 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 2,700 Year 2 $ 6,700 Year 3 $ 35,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice $8,500 preferred; $36,400 common. $15,200 preferred; $29,700 common. $25,500 preferred; $19,400 common. $19,700 preferred; $25,200 common. $17,000 preferred; $27,900 common.

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