None Question Content Area Dividends per share Seventy - Two Inc., a developer of radiology equipment, hasstock outstanding as follows: 80,000 shares of cumulative preferred 3% stock, $20 par and 410,000shares of $25 par common. During its first four years of operations, the following amounts weredistributed as dividends: first year, $34,000; second year, $74,000; third year, $80,000; fourth year, S100,000. Determine the dividends per share on each class of stock for each of the four years. Round allanswers to two decimal places. If no dividends are paid in a given year, enter "0".

Compute dividend per share for each class of stock:Formulas:

Answered: Question Content Area Dividends per…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter11: Stockholders' Equity

Section: Chapter Questions

Problem 11.13AMCP

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Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
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Question Content Area Texas Inc. has 9,000 shares of 7%, $125 par value cumulative preferred stock and 83,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $0.01 per share b. $70.00 per share c. $78,750 in total d. $5,810 in total
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Dividends Per Share Windborn Company has 25,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year 1 $93,800 Year 2 18,800 Year 3 112,500 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)
Dividend Per Share Oceanic Company has 25,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: Year 1 $150,000 Year 2 37,500 Year 3 225,000 Determine the dividend per share for preferred and common stock for each year. Round all answers to two decimal places. If an amount box does not require an entry, leave it blank. Year 1 Year 2 Year 3 Preferred stock (Dividend per share) $ $ $ Common stock (Dividend per share) $ $
Please provide correct answer this financial accounting question
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Dividends per share Seacrest Company has 15,000 shares of cumulative preferred 1% stock, $100 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 $30,000 12,000 45,000 20Y3 Preferred Stock (dividends per share) x Common Stock (dividends per share)

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