Question 5Nike was organized in November 1971 by Bill Bowerman and Phil Knight It has shares 76,000shares of $106 par value, 6%, nonparticipating preferred stock outstanding and 24,000 shares of$68 par value common stock outstanding. It has declared and paid cash dividends each year asshown below. Calculate the total dividends distributed to each class of stockholder under each ofthe assumptions given.Year197119761982TotalsDividends Paid5,2008,40023,000NOT CumulativeCommonPreferred520020Preferred5200CumulativeCommon0

Dividends are the part or share of profits which is being distributed to the shareholders. It can be…

Answered: Question 5 Nike was organized in…

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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The charter of Zion Associates provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 shares were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a. $80,000 b. $20,000 c. $90,000 d. $100,000 e. None of the above
Identifying and Analyzing Financial Statement Effects of Stock Transactions Melo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions. (a) Mar. 2 Issued 14,000 shares of $1 par value common stock at $30 cash per share. (b) Apr. 14 Issued 21,000 shares of $100 par value, 8% preferred stock at $250 cash per share. (c) June. 30 Purchased 4,200 shares of its own common stock at $22 cash per share. (d) Sep. 25 Sold 2,100 shares of its treasury stock at $26 cash per share. Note: For each account category, indicate the appropriate account name. Enter "N/A" for
QUESTION 6 Emma Systems, Inc. declared and issued a 9 percent stock dividend. The company has 720,000 shares authorized and 45,668 outstanding. The par value of the stock is $1.4 per share and the market value is $6 per share. To record the stock dividend, the debit to Retained Earnings would be S
Question 1 The following represents the Stockholders' Equity accounts of Mag Corp. as of December 31, 2000. Common Stock, $10 par value, 100,000 shares authorized, 55,000 shares issued & outstanding $550,000 Preferred Stock, $100 par value, 20,000 shares authorized, 4,000 shares issued & $400,000 outstanding $15,000 $400,000 $290,000 The company had the following transactions during the period January 1, 2001 to December 31, 2001 Issued 5,000 shares of common shares for $20 per share cash Declared a cash dividend of $2 per share to its preferred shareholders, with a date of record of April 20 Date of Record Pald the preferred cash dividends Paid-in Capital in Excess of par value, preferred Pald-in Capital in Excess of par value, common Retained Earnings March 1, April 5, April 20, May 5, August 1, Nov. 1, Dec. 31 Declared and distributed (on the same day) a 5% stock dividend on common stock. The market value of the stock was $25 per sture. Issued 500 shares of Preferred Stock for a…
QUESTION 8 Kaldi Company has 20.000 shares of $10 par value, 5% cumulative preferred stock and 200,000 shares of $20 par value common stock outstanding. The company paid total cash dividends of $8,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: OA S10.000. O B. $12,000. OC. $8.000. O D. $2.000.
Dividends Per Share Sandpiper Company has 25,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 20Y2 20Y3 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'. 20Y1 20Y2 20Y3 $62,500 20,000 75,000 Preferred Stock (dividends per share) $ $ Common Stock (dividends per share)
Dividends Per Share Seacrest Company has 25,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 20,000 Year 3 75,000 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'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ $ $ Common stock (Dividends per share) $ $ $
MC Qu. 11-153 A company has outstanding... A company has outstanding 13.50 million shares of $5.50 par common stock and 1.7 million shares of $4.70 par preferred stock. The preferred stock has an 9% dividend rate. The company declares $370,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference? Multiple Choice O Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 before the end of the current accounting period. Common stockholders will receive nothing. Preferred stockholders will receive $33,300 or 9% of the total dividends. Common stockholders will receive the remaining $336,700. Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 sometime in the future before common stockholders will receive anything. Preferred stockholders will receive the entire $370,000, but will receive nothing more relating to this dividend…
Identifying and Analyzing Financial Statement Effects of Stock TransactionsMelo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions.(a) Mar. 2 Issued 7,000 shares of $1 par value common stock at $30 cash per share.(b) Apr. 14 Issued 10,500 shares of $100 par value, 8% preferred stock at $250 cash per share.(c) June. 30 Purchased 2,100 shares of its own common stock at $22 cash per share.(d) Sep. 25 Sold 1,050 shares of its treasury stock at $26 cash per share.Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction.Note: Indicate a decrease in an account category by including a negative sign with the amount.
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LO: 13-08 Bloom's: Application 76. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares The following amounts were distributed as dividends of $50 par common stock. $10,000 45,000 90,000 Year 1: Year 2: Year 3: Determine the dividends per share for preferred and common stock for the first year. c. $0.50 and $0.00 d. $2.00 and $0.00 $0.50 and $0.10 b. $0.00 and $0.10 a. OBJ: LO: 13-03 Moderate DIF: C BUSPROG: Analytic PTS: 1 ANS: KEY: Bloom's: Application NAT:
Current Attempt in Progress On January 1, Bramble Corporation had 72000 shares of $10 par value common stock outstanding On March 17, the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $12 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a O credit to Cash for $108000. O debit to Stock Dividends for $21600. O credit to Paid-in Capital in Excess of Par for $21600. O debit to Common Stock Dividends Distributable for $108000

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