Swifty Limited's ledger shows the following balances on December 31, 2023: Preferred shares outstanding: 15,000 shares Common shares outstanding: 45,000 shares Retained earnings (a) Your answer is correct. Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $2.10 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to O decimal places, e.g. 5,275.) Dividends $ (b) eTextbook and Media Preferred Your answer is partially correct. Dividends $ 547 90000 Preferred $450,000 3,150,000 999,000 63000 Common Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of shares should receive if the preferred shares are non-cumulative and non-participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $2.10 per share. (Round answers to O decimal places, e.g. 5,275.) $ 409500 Common $ 436500 Total 499500 Total Assistance Used Attempts: 4 of 5 used 499500
Swifty Limited's ledger shows the following balances on December 31, 2023: Preferred shares outstanding: 15,000 shares Common shares outstanding: 45,000 shares Retained earnings (a) Your answer is correct. Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $2.10 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to O decimal places, e.g. 5,275.) Dividends $ (b) eTextbook and Media Preferred Your answer is partially correct. Dividends $ 547 90000 Preferred $450,000 3,150,000 999,000 63000 Common Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of shares should receive if the preferred shares are non-cumulative and non-participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $2.10 per share. (Round answers to O decimal places, e.g. 5,275.) $ 409500 Common $ 436500 Total 499500 Total Assistance Used Attempts: 4 of 5 used 499500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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Thankyou.
Transcribed Image Text:Swifty Limited's ledger shows the following balances on December 31, 2023:
Preferred shares outstanding: 15,000 shares
Common shares outstanding: 45,000 shares
Retained earnings
(a)
Your answer is correct.
Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of
shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears
on the preferred shares, which pay a dividend of $2.10 per share. (Round intermediate percentage calculations to 4 decimal places, e.g.
12.2525% and final answers to 0 decimal places, e.g. 5,275.)
Dividends
(b)
Preferred
e Textbook and Media
- Your answer is partially correct.
Dividends $
90000
Preferred
$450,000
3,150,000
999,000
63000
69
Common
69
409500
Common
69
Assuming that the directors decide to declare total dividends in the amount of $499,500, determine how much each class of
shares should receive if the preferred shares are non-cumulative and non-participating. Note that one year's dividends are in
arrears on the preferred shares, which pay a dividend of $2.10 per share. (Round answers to O decimal places, e.g. 5,275.)
436500
69
Total
$
499500
Total
Assistance Used
Attempts: 4 of 5
5 used
499500
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