Required information [The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018 5.5% cumulative preferred stock, $100 par, 20,000 shares authorized, 10,000 shares issued Common stock, $5 par, 360,000 shares authorized. 216,000 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained eamings $ 1,000,000 1,080,000 20,000 1,600,000 930,000 %24 Dividends have been declared and paid for 2018. The balance in Retained Earnings at the beginning of the year was $840,000, and there were no dividends in arrears. Net income for 2018 was $600,000. What was the amount of dividend declared on each share of common stock during 2018? Multiple Cholce

Required information [The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018 5.5% cumulative preferred stock, $100 par, 20,000 shares authorized, 10,000 shares issued Common stock, $5 par, 360,000 shares authorized. 216,000 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained eamings $ 1,000,000 1,080,000 20,000 1,600,000 930,000 %24 Dividends have been declared and paid for 2018. The balance in Retained Earnings at the beginning of the year was $840,000, and there were no dividends in arrears. Net income for 2018 was $600,000. What was the amount of dividend declared on each share of common stock during 2018? Multiple Cholce

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

Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in the stockholders' equity. Preferred Stock, 148,200 shares $2,964,000 Common Stock, 1,991,000 shares 9,955,000 Paid-in Capital in Excess of Par--Preferred Stock 207,000 Paid-in Capital in Excess of Par--Common Stock 26,478,000 Retained Earnings 4,495,000 The following transactions affected stockholders' equity during 2026. Jan. 1 29,200 shares of preferred stock issued at $23 per share. Feb. 1 46,100 shares of common stock issued at $21 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,900 shares of common treasury stock purchased at $10 per share. Blossom uses the cost method. Sept.15 9,200 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 53 cents per share is declared. Dec. 31 Net income is $2,138,000. Prepare the stockholders'…
Shown below is information relating to shareholder's equity of R2K Corporation as of December 31,2018 (SEE PICTURE BELOW):What is the amount of total shareholder’s equity that R2K Corporation should report on December 31, 2018?
The shareholders’ equity section of Superior Corporation’s balance sheet as of December 31, 2018, is as follows: Shareholders’ Equity Preferred stock, $100 par value; authorized, 300,000 shares; issued, 32,500 shares $3,250,000 Common stock, $5 par value; authorized, 2,000,000 shares; issued, 442,000 shares 2,210,000 Paid-in capital in excess of par—preferred 87,000 Paid-in capital in excess of par—common 875,000 Retained earnings 2,980,000 $9,402,000 The following events occurred during 2019: Jan. 5 10,000 shares of authorized and unissued common stock were sold for $6 per share. 16 12,000 shares of authorized and unissued preferred stock were sold for $107 per share. Apr. 1 78,000 shares of common stock were repurchased for the treasury at a price of $17 per share. Superior uses the cost method to account for treasury stock. Sept. 1 2,500 shares of preferred stock are issued in exchange for a piece of land. The land has an appraised value of $280,500. The preferred stock currently…
Required information [The following information applies to the questions displayed below] Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: Paid-in capital: Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively. Additional paid-in capital. Retained earnings Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively Total stockholders' equity. May 31, 2019 Total cash dividend $16,800,000 ? 26,100,000 36,200,000 (4,412,000) $ ? April 30, 2019 $16,800,000 2,700,000 23,220,000 34,640,000 (4,148,000) $73,212,000 Assume that on June 1 the board of directors declared a cash dividend of $0.60 per share on the outstanding shares of common stock. The dividend will be payable on July 15 to stockholders of record on June 15 e-1. Calculate the total amount…
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, and outstanding Common stock-$ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ 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.
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2024 12/31/2023 Common stock, $5 par; 23 million shares authorized; 18 million shares issued and 15 million shares outstanding at 12/31/2024; and _____________blank million shares issued and _____________blank shares outstanding at 12/31/2023. $ 90 million $ 75 million Additional paid-in capital on common stock 523 million 395 million Retained earnings 200 million 160 million Treasury common stock, at cost, 3 million shares at 12/31/2024 and 1 million shares at 12/31/2023 (75 million) (53 million) Total shareholders’ equity $ 738 million $ 577 million How many of Levi's common shares were outstanding on 12/31/2023?
Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 6.5% cumulative preferred stock, $100 par value; authorized, 18,000 shares; issued and outstanding, 9,000 shares Common stock, $4 par value; authorized, 340,000 shares; issued and outstanding, 204,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was: Multiple Choice O $52.50. $100.00. $105.00. $ 900,000 $ 816,000 $ 45,000 $ 1,500,000 $ 920,000
ESPAÑOL INGLÉS FRANCÉS Below is the Equity section of the Reston Corporation's Statement of Financial Position as of December 31, 2021: Common Shares ($5 par value, 2,000,000 authorized, 402,000 issued, and 400,000 outstanding) $2,010,000 Capital paid in excess of par value of common $850,000 Paid-in capital in excess of treasury shares $300 Retained Earnings $3,000,000 Shares in Portfolio $12,000 Total Estate $5,848,300 1. Prepare the necessary journal entries for the following equity transactions that occurred during 2022. 2. Indicate how many outstanding shares the company has immediately after each transaction. 27. Jan 5 - The company sold 15,000 previously unissued authorized shares of common stock at $8 each. Enviar comentarios
Required Information [The following information applies to the questions displayed below.] Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 Paid-in capital: Preferred stock, $120 par value, 5%, cumulative, 100,000 shares authorized, 74,000 shares issued and outstanding Common stock, $6 par value, 600,000 shares authorized, 420,000 and 480,000 shares issued, respectively Additional paid-in capital Retained earnings Less: Treasury common stock, at cost; 21,000 shares and 19,500 shares, respectively Total stockholders' equity Par value Number of shares 2. What will be the market price per share of common stock after the split? Market price 3. How many shares of common stock will be in the treasury after the split? $ 8,880,000 Number of shares ? 14,670,000 12,070,000 (1,932,000) $ g. Assume that instead of the stock dividend described in f, the board of directors authorized a 2-for-1 stock split on June 1 when the…
The December 31, 2023, equity section of ZoomZoom inc's balance sheet appears below ZooZoon Inc. Equity Section of the Balance Sheet December 31, 2023 Contributed capital: Preferred shares, $3.75 cumulative, 33,000 shares authorized and issued Preferred shares, $10 non-cumulative, 8,700 shares authorized and issued Common shares, 330,000 shares authorized and issued Total contributed capital Retained earnings Total equity Required: All the shares were issued on January 1, 2021 (when the corporation began operations) No dividends had been declared during the first two years of operations (2021 and 2022) During 2023, the cash dividends declared and paid totalled $578,300. 1. Calculate the amount of cash dividends paid during 2023 to each of the three classes of shares Show Transcribed Text Cumulative preferred shares Noncumulative preferred shares Common shares Required: All the shares were issued on January 1, 2021 (when the corporation began operations). No dividends had been de first…
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2021 12/31/2020 Common stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2021; and ____ million shares issued and ____ shares outstanding at 12/31/2020. $ 75 million $ 45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2021 and 4 million shares at 12/31/2020 (72 million) (50 million) Total shareholders’ equity $ 720 million $ 544 million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021? Multiple Choice $39 per share. Cannot be determined from the given information. $26 per share. $5 per share.