What is the total amount of dividends to be distributed during the year assuming no equity transactions occur after June 30?
What is the total amount of dividends to be distributed during the year assuming no equity transactions occur after June 30?
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...
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Marites Company has been paying regular quarterly dividends of P1.50 and wants to pay the same amount in the third quarter of 2021.The following information relates to the company’s equity: (see image below). What is the total amount of dividends to be distributed during the year assuming no equity transactions occur after June 30?
![Shares outstanding, 400,000; P2 par (760,000 shares authorized).
Issued 25,500 new shares at 10.50
Paid quarterly dividends of 1.50 per share
Converted P1,000,000 of 1,000 bonds to ordinary shares at the rate of
50 shares per P1,000 bond.
Jan. 1
Feb. 15
Mar. 31
May 12
June 15
Issued an 12% stock dividend
June 30
Paid quarterly dividends of P1.50 per share.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3b73dc6d-eb21-4079-a3d2-6b60e46ac4c9%2Fff9befce-7afb-48af-bb50-2279a7a15ded%2Fpv3021m_processed.png&w=3840&q=75)
Transcribed Image Text:Shares outstanding, 400,000; P2 par (760,000 shares authorized).
Issued 25,500 new shares at 10.50
Paid quarterly dividends of 1.50 per share
Converted P1,000,000 of 1,000 bonds to ordinary shares at the rate of
50 shares per P1,000 bond.
Jan. 1
Feb. 15
Mar. 31
May 12
June 15
Issued an 12% stock dividend
June 30
Paid quarterly dividends of P1.50 per share.
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