the end of 20x6, Jabba the Hutt's Hot Dog Hut had 350,000 shares of $1 par value common stock iss ddition, Jabba had 94,000 shares of $5 par value, 10% cumulative preferred stock as part of his shar of Jabba's stock, both common and preferred, has been outstanding since the company was incorpo 5. Da did not declare any dividends in 20x5, but he declares and pays a $140,000 cash dividend on De ermine the amount of cash that will be distributed to each class of Jabba's stockholders' equity for th ulation of preferred dividend: cash dividend eferred shareholders mmon shareholders Par Value per Preferred Share $ 0 Dividend Rate % Dividend per Preferred Share Number of Preferred Shares Preferred Dividend for two years

the end of 20x6, Jabba the Hutt's Hot Dog Hut had 350,000 shares of $1 par value common stock iss ddition, Jabba had 94,000 shares of $5 par value, 10% cumulative preferred stock as part of his shar of Jabba's stock, both common and preferred, has been outstanding since the company was incorpo 5. Da did not declare any dividends in 20x5, but he declares and pays a $140,000 cash dividend on De ermine the amount of cash that will be distributed to each class of Jabba's stockholders' equity for th ulation of preferred dividend: cash dividend eferred shareholders mmon shareholders Par Value per Preferred Share $ 0 Dividend Rate % Dividend per Preferred Share Number of Preferred Shares Preferred Dividend for two years

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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Andrews Company has $95,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $100 per share, and the common stock is selling for $20 per share. Required 1. Determine the amount of dividends to be paid to each class of shareholder for each of the following independent assumptions. If an amount box required no entry, leave it blank. a. Preferred stock is nonparticipating and noncumulative.
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b. Sheridan declares and issues a 10% stock dividend when the market price of the stock is $15 per share. (1) (2) (3) (4) (1) (2) (5) Total stockholders' equity (3) Total assets (4) Common stock (5) Paid-in capital in excess of par Retained earnings Total assets Common stock Paid-in capital in excess of par Retained earnings no effect c. Sheridan declares and issues a 20% stock dividend when the market price of the stock is $15 per share. Total stockholders' equity increase increase decrease no effect no effect increase no effect decrease no effect LA $ LA $ $ LA $ LA $ LA $ O
On October 31, the stockholders' equity section of Blossom Corporation's balance sheet consists of common stock $659,200 and retained earnings $877,000. Blossom is considering the following two courses of action: (1) declaring a 5% stock dividend on the 82.400 $8 par value shares outstanding or (2) effecting a 2-for-1 stock split that will reduce par value to $4 per share. The current market price is $15 per share. Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares. Stockholders' equity Paid-in capital Retained earnings Total stockholders equity $ Outstanding shares Before Action $ $ After Stock Dividend $ After Stock Split
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
PHSS, Inc. issues 5,000 shares of 6%, $100 par value preferred stock at the beginning of 20X1. All remaining shares are common stock. PHSS was not able to pay dividends in 20X1, but plans to pay dividends of $100,000 in 20X2. Assuming the preferred stock is cumulative, how much of the $100,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 20X2? Select one: a. $60,000 to preferred stockholders and $40,000 to common stockholders b. $40,000 to preferred stockholders and $60,000 to common stockholders c. $100,000 to preferred stockholders and $0 to common stockholders d. $80,000 to preferred stockholders and $20,000 to common stockholders. e. $30,000 to preferred stockholders and $70,000 to common stockholders
Best-Cost Corporation issues 5 million shares of common stock and100,000 shares of 6 percent cumulative preferred stock at $100 par. Thecorporation has not paid any dividend during the previous 3 years. Theboard of directors decides to pay $5 million in dividends for the currentyear.a. How much in dividends is paid for each share of preferred stock?b. What is the total amount of dividends paid to preferred stockholders?c. How much is the dividend payment for each share of common stock?d. What is the total amount of dividends paid to common stockholders?
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