These account balances at December 31 relate to Sportring Inc.:Accounts Payable...$51,200 Preferred Shares, $0.01,Accounts Receivable82,050 840,000 shares issuedCommon Shares..594,000 Retained Earnings. .Bonds Payable3,700 Notes ReceivableIf the board of directors declare a dividend of $22,000 on December 31, how much of this total would the common shareholders receive? No otherdividends have been declared during the year.84,00071,40012,900

There are two types of shareholders in a company. Preference share holders have preference in…

Answered: These account balances at December 31…

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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Ayayai Corp. has these accounts at December 31: Common Stock, $10 par, 4,500 shares issued, $45,000; Paid-in Capital in Excess of Par $20,250; Retained Earnings $43,000; and Treasury Stock, 400 shares, $8,800. Prepare the stockholders' equity section of the balance sheet. (Enter account name only and do not provide descriptive information.) Ayayai Corp. Balance Sheet (Partial) SA
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 6% $1,900,000 Preferred $10 stock, $50 par $52,000 Common stock, $10 par $384,800.00 Income before income tax was $239,400, and income taxes were $36,600 for the current year. Cash dividends paid on common stock during the current year totaled $46,176. The common stock was selling for $60 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio b. Earnings per share on common stock c. Price-earnings ratiofill d. Dividends per share of common stock 4 e. Dividend yieldfill in the blank 5%
Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 2,000,000 shares issued; Additional Paid-in Capital, $18 million; Retained Earnings, $11 million; and Treasury Stock, 60,000 shares, $1.32 million. Prepare the stockholders’ equity section of the balance sheet.
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 138,000 shares of $7 par common stock. 2. 9,500 shares of $90 par, 5 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 9,500 shares of preferred stock and a $4 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. b. Prepare general journal entries to record the declaration and payment of the cash dividends. Complete this question by entering your answers in the tabs below. Required A Required B Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. Preferred stock Common stock Total dividend Required A Required B >
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? issue price $9 per share. Shares held as treasury stock, 11,600 shares, cost $7 per share.. Net income for the current year, $410,720. Common Stock account, $144,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $740,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share…
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Line Item Description Amount Common Stock, $15 par $154,500 Paid-In Capital from Sale of Treasury Stock 6,700 Paid-In Capital in Excess of Par—Common Stock 12,360 Retained Earnings 255,000 Treasury Stock 9,595 Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Regarding the common stock, 50,000 shares are authorized, and 505 shares have been reacquired.
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The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $15 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Retained Earnings Treasury Stock (715 Shares at Cost) Total Stockholders' Equity $657,000 27,000 17,520 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 715 shares have been reacquired. ✓ 1,031,000 ✓ 13,585 Paid-In Capital: Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued) Excess Over Par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Goodale Properties Inc. Stockholders' Equity June 30 QOOQ
On January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it had the following transactions that affected the common stock account. April 1 Acquired 64,000 shares of treasury stock July 1 Issued a 20% stock dividend October 1 Issued a 4-for-1 stock split What is the weighted-average number of shares outstanding as of December 31, 2021?

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