Required information[The following information applies to the questions displayed below.]Raphael Corporation's balance sheet shows the following stockholders' equity section.Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, andoutstandingCommon stock-$ par value, 4,000 shares authorized, issued, and outstandingRetained earningsTotal stockholders' equity$ 50,00080,000150,000$ 280,0002. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500,compute the total amount paid to (a) preferred shareholders and (b) common shareholders.

Dividend is the amount of money paid to the shareholders' of the entity in the form of return. It is…

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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 January 1, 2022, Pharoah Company had the following stockholders' equity accounts. Common Stock ($20 par value, 58,700 shares issued and outstanding) $1,174,000 Paid-in Capital in Excess of Par-Common Stock 196,000 Retained Earnings 555,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $37. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $375,000. Enter the beginning balances, and post the entries to the stockholders' equity…
! Required Information [The following Information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferre stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders equity Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Corporation's preferred stock Corporation's common stock Par value $ 50,000 80,000 150,000 $ 280,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. a. Total amount paid to the preferred shareholders b. Total amount paid to the common shareholders
1. Prepare the journal entry to record Tamas Company’s issuance of 5,000 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)
need correct and complete help please with working
The balance sheet caption for common stock is the following: Common stock, $5 par value, 2,920,000 shares authorized, 1,560,000 shares issued, 1,070,000 shares outstanding Calculate the dollar amount that will be presented opposite this caption. $?
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Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 sharesauthorized, issued, and outstanding $ 95,000 Common stock—$___ par value, 4,000 shares authorized, issued,and outstanding 160,000 Retained earnings 310,000 Total stockholders' equity $ 565,000 3. If two years’ preferred dividends are in arrears at the current date, what is the book value per share of common stock?
The following data were taken from the statement of financial position accounts of Cha-Cha Corporation on Dec 31, 2019. Current Assets $ 270,000 Investments $ 312,000 Share Capital - Ordinary (par Value $10) $ 300,000 Share Premium - Ordinary $ 75,000 Retained Earnings $ 420,000 Prepare the required Journal Entries for the following unrelated items! 1. A 5% share dividend is declared and distributed at a time when the market price of the shares is $39 per share. 2. The par value of the ordinary shares is reduced to $2 with a 5-for-1 share split. 3. A dividend is declared January 10, 2020 and paid January 28, 2020, in bonds held as an investment. The bonds have a book value of $ 0f $45,000 and a fair value $ 62,500.

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