12 Sweet Company's outstanding stock consists of 1,320 shares of cumulative 5% preferred stock with a $100 par value and 10,000shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the followingtotal cash dividends.Dividends Declared& Paid15points00:26:47Year 1Year 2Year 3$ 5,200$ 6,800$ 32,500The amount of dividends paid to preferred and common shareholders in year 3 is:Multiple Choice$16,600 preferred; $21,800 common

Annual preferred dividends represent the fixed amount paid to preferred shareholders each year.…

Answered: Sweet Company's outstanding stock…

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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Spring Company is authorized to issue 7500,000 shares of $2 par value common stock. In its first year, the company has the following transactions: March 1: Issued 400,000 shares of stock at $9.75 per share June 15: Purchased 10,000 shares of treasury stock for $9 per share Sept 1: Declared a cash dividend of 10-cents per share on common stock Sept. 15: Record date for cash dividend Oct, 1: Paid cash dividend Journalize the transactions.
Halverstein Company's outstanding stock consists of 10,850 shares of cumulative 5% preferred stock with a $10 par value and 4,650 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 0 Year 2 $ 9,300 Year 3 $ 40,000 The amount of dividends paid to preferred and common shareholders in Year 2 is:
The following Information pertains to JAE Corporation at January 1, Year 1. Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. Required Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below. Req D $20,000 15,000 82,000 Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts be indicated with minus sign.) Stockholders' equity Common stock Total paid-in capital Retained earnings Total stockholders' equity
The outstanding share capital of KTI Corporation consists of 2,950 preferred shares and 7,000 common shayes for which $280,000 was received. The preferred shares carry a dividend of $7 per share and have $100 stated value. Instructions: Assuming that the company has retained earnings of $95,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the two years preceding the current year, state how much each class of shares should receive under each of the following conditions. a. The preferred shares are cumulative and non-participating. b. The preferred shares are cumulative and participating. Do not round intermediate calculations but round answer to nearest dollar.
The stockholders' equity of Blue Corporation includes $300,000 of S1 par common stock and $500,000 par of 5% cumulative preferred stock. In its first year of operations, cash dividends of $20,000 were declared. In its second year of operations, cash dividends of $15,000 were declared. Now in its third year, cash dividends of $100,000 are declared. How much of the $100,000 year three dividends will preferred stockholders receive? Multiple Choice $25,000 $15,000 $40,000 $35,000
Nowell Inc. had the following stock issued and outstanding as of January 1, Year 2: 1. 150,000 shares of no-par common stock. 2. 30,000 shares of $50 par, 4 percent, cumulative preferred stock. (Dividends are in arrears for one year, Year 1.) On March 8, Year 2, Nowell declared a $175,000 cash dividend to be paid March 31 to shareholders of record on March 20. a. What amount of dividends will be paid to the preferred shareholders versus the common shareholders?
The outstanding capital stock of Oriole Corporation consists of 1,900 shares of $100 par value, 8% preferred, and 4,700 shares of $50 par value common. Assuming that the company has retained earnings of $89,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. a. The preferred stock is noncumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) Preferred b. The preferred stock is cumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) EA Preferred Common c. The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to O decimal places, e.g. 38,487.) Preferred LA Common Common
A company had stock outstanding as follows during each of its first three years of operations: 1,000 shares of 10%, $100 par, cumulative preferred stock and 54,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. If your answer is zero, please enter "0". Year 1 2 3 Dividends $7,500 10,000 39,080 Total Preferred $ Per Share Total Common Per Share
Sweet Company’s outstanding stock consists of 1,700 shares of cumulative 5% preferred stock with a $100 par value and 10,700 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 2,700 Year 2 $ 6,700 Year 3 $ 35,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice $8,500 preferred; $36,400 common. $15,200 preferred; $29,700 common. $25,500 preferred; $19,400 common. $19,700 preferred; $25,200 common. $17,000 preferred; $27,900 common.
The board of durectors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding. The journal entry for the dividend declaration would be:
Sweet Company’s outstanding stock consists of 1,700 shares of noncumulative 4% preferred stock with a $100 par value and 11,700 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 3,700 Year 2 $ 9,400 Year 3 $ 40,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is:
Sweet Company’s outstanding stock consists of 1,900 shares of cumulative 5% preferred stock with a $100 par value and 10,900 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 2,900 Year 2 $ 6,900 Year 3 $ 36,500 The amount of dividends paid to preferred and common shareholders in year 3 is:Multiple Choice $28,500 preferred; $8,000 common. $9,500 preferred; $27,000 common. $0 preferred; $36,500 common. $18,700 preferred; $17,800 common. $36,500 preferred; $0 common.

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