Sunland Corporation issued 104,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,590,000. In December 2023, Sunland declared its first dividend of $770,000. If the preferred stock is cumulative, how much of the $770,000 would be paid to common stockholders?
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Sunland Corporation issued 104,000 shares of $19 par value, cumulative, 9%
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- On December 31, 2020, Berclair Inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $150 million.Required:Compute Berclair’s earnings per share for the year ended December 31, 2021.Johnny Deng, Incorporated initially issued 240,000 shares of $1 par stock for $1,200,000 in 2022. In 2023, the company repurchased 24,000 shares for $240,000. In 2024, 12,000 of the repurchased shares were resold for $192,000. In its balance sheet dated December 31, 2024, Johnny Deng, Incorporated's treasury stock account shows a balance of:On August 15, 2021, EasyMoney, Inc.'s Board of Directors meets and declares that EasyMoney will pay a dividend to its stockholders. Each share of EasyMoney's Common Stock will be paid a dividend of $1.25 per share. There are currently 100,000 shares of EasyMoney's Common Stock held by EasyMoney's shareholders. The following are the facts related to this dividend: D Dividend per Share D Date of Declaration D Date of Record D Date of Payment $1.25 August 15, 2021 September 5, 2021 September 20, 2021 The following is a partial list of the accounts in EasyMoney, Inc.'s General Ledger. These are the only accounts you need for this problem. D Cash D Dividends Payable > Retained Earnings As of August 1, 2021, the Beginning Balance in the Dividends Payable account is $0 and the Beginning Balance in the Retained Earnings account is $625,000.
- On December 31, 2020, Berclair Inc. had 360 million shares of common stock and 12 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 40 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $600 million. Also outstanding at December 31 were 60 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable as of September 13, 2020, for 60 million common shares at an exercise price of $60 per share. During 2021, the market price of the common shares averaged $80 per share. The options were exercised on September 1, 2021. Required: Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Do not…Walker Ltd. had the following share transactions in 2021: Event Shares Opening balance, common shares, January 1, 2021 120,000 Common shares issued, March 1, 2021 60,000 Preferred shares issued, May 1, 2021 25,000 Common shares repurchased, June 1, 2021 30,000 What was the weighted average number of common shares outstanding in 2021? Question 7 options: 112,500 169,166 152,500 150,000Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,550,000. In December 2023, Windsor declared its first dividend of $750,000. (a). (b) Your answer is incorrect. If the preferred stock is not cumulative, how much of the $750,000 would be paid to common stockholders? Common Stock Dividends $
- Corporation has 3,000 shares of 8%, $100 par value preferred stock outstanding on Dec31, 2022 when it declared a $105,000 cash dividend. Determine the dividend to be paid in 2022 to preferred and common stockholders under these 3 scenarios. 1. The preferred stock is noncumulative. The company has not missed any dividends payments in 2020 or 2021. 1a) The dividend paid to preferred stockholders would be: 1b) The dividend paid to common stockholders would be: 2. The preferred stock is noncumulative. The company did not pay a dividend in 2020 or 2021. 2a) The dividend paid to preferred stockholders would be: 2b) The dividend paid to common stockholders would be: 3. The preferred stock is cumulative. The company did not pay a dividend in 2020 or 2021. 3a) The dividend paid to preferred stockholders would be: 3b) The dividend paid to common stockholders would be:At the beginning of 2019, Hardin Company had 280,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 43,000 shares of stock at $21 per share. June 1 Issued a 15% stock dividend. July 1 Issued 9,000 shares of stock at $26 per share. Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. Oct. 31 Reacquired 84,000 shares as treasury stock at a cost of $29 per share. Nov. 30 Reissued 53,000 treasury shares at a price of $32 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number. fill in the blank2. Determine the number of common shares outstanding at December 31, 2019. fill in the blankOn December 31, 2020, Berclair Inc. had 500 million shares of common stock and 22 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $1,100 million. Also outstanding at December 31 were 72 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable as of September 13, 2020, for 72 million common shares at an exercise price of $60 per share. During 2021, the market price of the common shares averaged $90 per share. The options were exercised on September 1, 2021. Required: Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).…
- On January 1, 2020, Windsor Corporation had $2,000,000 of $10 par value common stock outstanding that was issued at par and retained earnings of $1,040,000. The company issued 235,000 shares of common stock at $12 per share on July 1. On December 15, the board of directors declared a 15% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Windsor Corporation stock was $15 per share on December 15 and $16 per share on December 31. Net income for 2020 was $535,000. (a1) Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation July 19 Dec 15 DebitOn December 31, 2020, Berclair Inc. had 420 million shares of common stock and 15 million shares of 9%, $100 par value cumulativepreferred stock issued and outstanding. On March 1, 2021, Berclair purchased 96 million shares of its common stock as treasury stockBerclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for theyear ended December 31, 2021, was $750 million.Also outstanding at December 31 were 63 million incentive stock options granted to key executives on September 13, 2016. Theoptions were exercisable as of September 13, 2020, for 63 million common shares at an exercise price of $60 per share. During 2021,the market price of the common shares averaged $70 per share.The options were exercised on September 1, 2021.Required:Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e.,10,000,000 should be entered as 10). Do not round…On December 31, 2023, Brisbane Company had 100,000 shares of common stock outstanding and 37,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2024, Brisbane purchased 31,000 shares of common stock on the open market as treasury stock paying $47 per share. Brisbane sold 6,700 treasury shares on September 30, 2024, for $52 per share. Net income for 2024 was $187,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 57,000 common shares at $47. The market price of the common shares averaged $57 during 2024. Required: Compute Brisbane's basic and diluted earnings per share for 2024. Note: Do not round intermediate calculation. Round your answers to 2 decimal places. Basic Diluted Earnings per share
