Sirap Co. has 10000 shares of 6% $100 par preferred stock outstanding. The company also has 100000 shares of common stock outstanding. The company began business On January 1, 2020. The total amount of dividends paid in 2020 and 2021 were at $45000 and $100000 respectively. Part 1, how do you Calculate the total dividends each year paid to preferred and common shareholders if the preferred stock is Not cumulative ? . Part 2 The preferred stock is cumulative.

Sirap Co. has 10000 shares of 6% $100 par preferred stock outstanding. The company also has 100000 shares of common stock outstanding. The company began business On January 1, 2020. The total amount of dividends paid in 2020 and 2021 were at $45000 and $100000 respectively. Part 1, how do you Calculate the total dividends each year paid to preferred and common shareholders if the preferred stock is Not cumulative ? . Part 2 The preferred stock is cumulative.

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

Please answer do not image format
Sage Corporation has outstanding 10,500 shares of $100 par value, 6% preferred stock and 58,800 shares of $10 par value common stock. The preferred stock was issued in January 2020, and no dividends were declared in 2020 or 2021. In 2022, Sage declares a cash dividend of $281,000.(a) Assume that the preferred are noncumulative.How much dividend will the preferred stockholders receive? Preferred stockholders would receive $ How much dividend will the common stockholders receive? Common stockholders would receive $ (b) Assume that the preferred are cumulative.How much dividend will the preferred stockholders receive? Preferred stockholders would receive $ How much dividend will the common stockholders receive? Common stockholders would receive $
On January 1, 2026, Sheridan Corp. had 491,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 March 1 May 1 June 1 October 1 (a) Issued 116,000 shares Issued a 10% stock dividend Acquired 96,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 59,000 shares of treasury stock Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding
Splish Brothers Inc. has 10,800 shares of 8%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared in 2020 or 2021.If Splish Brothers wants to pay $395,000 of dividends in 2022, what amount of dividends will common stockholders receive? Dividends allocated to common stock $enter Dividends allocated to common stock in dollars
On January 1, 2021, Novak Corp. had 479,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 117,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 103,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock Part 1 Incorrect answer icon Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2021.Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $ 426,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.) Novak Corp.Income Statementchoose the accounting period select an opening name for this statement $ enter a dollar amount per share rounded to 2 decimal places select an income…
Vishal
Question-based on, "Stockholders equity section". I have tried it but got it incorrect.
qr.1.
Compute the earnings per share data as it should appear on an income statement.
Required:1. Indicate the amount of annual dividend on each issue of the preferred shares by completingthe last column of the above table 2. Assume that there are one year of dividends in arrears at the beginning of 2020, and Essexdeclared total dividends of $40,000 in 2020. What is the amount of dividends that thecommon shareholders will receive in 2020?
The following financial information is available for Wildhorse Corporation. (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income Payout ratio 2022 Return on common stockholders' equity $2,526 $2,608 298 40 504 2021 2022 635 Calculate the payout ratio and return on common stockholders' equity for 2022 and 2021. (Round answers to 1 decimal place, e.g. 12.5%.) 40 556 % % 2021 % %
On January 1, 2021, Sue Company had 3,000,000 shares of its common stockissued and outstanding. Sue issued a 10% stock dividend on July 1, 2021. OnOctober 1, 2021, Sue retired 120,000 of its common shares. When calculating basicearnings per share for 2021, what is the appropriate number of shares for Sue touse in the denominator of the EPS fraction?