The shareholders' equity of High Company included P3,000,000 of P10 par ordinary share capital and P6.000,000 of 6% P50 par cumulative preference share capital. The board of directors declared cash dividendsof P900,000 in 2019 after paying P300,000 cash dividends in 2018 and 500,000 in 2017.What amount of cash dividends was received by ordinary shareholders in 2019?Select the correct response:O 450,000O 300,000O 480,000O 540,000( PreviousContinue >

Cash dividend is paid to Preference Shareholder and Equity Shareholders. Preference Shareholders…

Answered: The shareholders equity of High Company…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The shareholders' equity of MLS Enterprises includes $100 million of no par common stock and $200 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $31 million in 2021 after paying $7 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Annual Preferred Dividend: 2019 2020 2021 Total $ Par Value Preferred Stock X Answer is complete but not entirely correct. Annual Preferred Dividend 200 Total Cash Dividend Paid 7,000,000 7,000,000 31,000,000 $ 45,000,000 $ Dividend Rate (%) 6.0 Paid to Preferred % 7,000,000 X 7,000,000 X 22,000,000 36,000,000 $ Paid to Common 12 0 0 9,000,000 9,000,000 Dividends in Arrears at year- end 5,000,000 X 10,000,000
On Dec 15, 2019 the board of directors of Flexsttel declared a cash dividend. The dividend is payable on Jan 8, 2019, of $0.80 per share on the 2,000,000 common shares outstanding. On dec 15, 2019 Flexsteel should: A. Decrease retained earnings $1.6 million and increase expenses $1.6 million B. Debit dividends $1.6 million and credit dividends payable by $1.6 million C. Not prepare a journal entry because the event had no effect on the corporation's financial position until 2020. D. Decrease cash $1.6 million and decrease retained earnings $1.6 million
Help Save & Exit Su As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings 20,000 600,000 20,000 4,000,000 3,000,000 What was shareholders' equity as of December 31, 2021? Multiple Choice $7,020,000. $6,420,000. $6.400,000. Next > Prev 28 of 39 Question no, pages %24
Cash dividends on the $10 par value common stock of Garrett Company were as follows: 1st quarter of 2019 $ 800,000 2nd quarter of 2019 900,000 3rd quarter of 2019 1,000,000 4th quarter of 2019 1,100,000 The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its $10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was $20 per share. The shares were issued on December 24, 2019. What was the effect on Garrett’s shareholders’ equity accounts as a result of the preceding transactions? Common Stock Additional Paid-in Capital Retained Earnings a. $0 $0 $3,800,000 dr b. $150,000 cr $0 $3,950,000 dr c. $150,000 cr $150,000 cr $4,100,000 dr d. $300,000 cr $300,000 dr $3,800,000 dr
G. The stock holders' equity section of the statement of financial position of Calubcub Company at December 31, 2019, is given below: Stock holders' equity: Commons stock, P10 par value. 200,000 shares authorized, 80,000 shares issued and outstanding Premium on Ordinary share capital 800,000 400,000 P 1,200,000 2,500,000 P 3,700,000 P Total paid in capital Retained earnings Total stockholders' equity
The following data were taken from the accounts of BestDeals Corporation at the end of 2019: Capital stock, par $10 (20,000 shares issued) $200,000 Contributed capital in excess of par 305,000 Retained earnings, balance December 31, 2018 100,000 Revenues earned during 2019 500,000 Expenses incurred during 2019 420,000 Cash dividends declared and paid (during 2019) 30,000 Treasury stock (1,000 shares at cost) 17,000 The total amount of stockholders' equity that should be reported on the balance sheet dated December 31, 2019, is A. $278,000 B. $638,000. C. $398,000
On January 1, 2019, Rama Company issued 3,000 shares of 8%, OMR100 par value, preferred stock for 250,000. The board of directors declared dividends on December 30, 2019 and the dividends paid on 13/12/2019. As a result of this transaction dividend preferred in capital should be: Select one: a. Debited by 20000 b. None of the options c. Debited by OMR24000 O d. Credited by OMR24000
The following events are for Toronto Investment Inc.: 2020 Jan. 14 Purchased 18,200 shares of Quatro Inc. common shares for $161,900. Quatro has 91,000 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by Toronto. Oct. 1 Quatro declared and paid a cash dividend of $3.10 per share. Dec. 31 Quatro announced that profit for the year amounted to $655,000. 2021 April 1 Quatro declared and paid a cash dividend of $3.20 per share. Dec. 31 Quatro announced that profit for the year amounted to $738,100. 31 Toronto sold 6,500 shares of Quatro for $106,820. Prepare general journal entries (Included Picture as sample) 1. Record the purchase of investment (Jan 14, 2020) 2. Record the collection of dividends (Oct 01, 2020) 3. Record the equity share of profits in investment (Dec 31, 2020)
The shareholders’ equity of MLS Enterprises includes $100 million of no par common stock and $200 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $31 million in 2021 after paying $7 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021?

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