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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

FINANCIAL ACCOUNTING
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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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
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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