Wildhorse Appliance Company has 5100 shares of 6%, $50 par value, cumulative preferred stock and 102000 shares of $1 par valuecommon stock outstanding at December 31, 2025, and December 31, 2024. The board of directors declared and paid a $13300dividend in 2024. In 2025, a total of $60,000 in dividends are declared and paid. What are the dividends received by the preferredstockholders in 2025?O $15300.O $43900.O $30600.O $17300.

The preference shareholders received the dividend before dividend is paid to common shareholders.…

Answered: Wildhorse Appliance Company has 5100…

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 Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $200,000, and Retained Earnings $120,000. In 2022, the company had the following treasury stock transactions. Purchased 5,500 shares at $9 per share. Sold 1,000 shares at $13 per share. Sept. 1 Sold 1,000 shares at $11 per share. Dec. 1 Sold 1,500 shares at $7 per share. Mar. 1 June 1 Ayayai Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $30,000. D (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit S
The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash dividends of $3.7 million, $6.0 million, and $52.8 million in each of its first three years of operation: 2022, 2023, and 2024, respectively. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. Note: Round your final answers to 2 decimal places. Year 2022 $ Preferred Common 3.70 Per share $ 0.00 Per share 2023 2024 $ 6.00 Per share $ 0.00 Per share Per share Per share
Bonita, Inc., has 3150 shares of 5%, $100 par value, cumulative preferred stock and 25200 shares of $1 par value common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $28000 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? $15750 O $0 O $28000 O $8750
Waterway, Inc., has 4900 shares of 3%, $100 par value, cumulative preferred stock and 39200 shares of $1 par value common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $45200 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? $0 $45200 $14700 $46300
Concord Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($4 par) $400,000, Paid-in Capital in ExceSs of Par-Common Stock $185,000, and Retained Earnings $120,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 6,000 shares at $9 per share. June 1 Sold 1,500 shares at $13 per share. Sept. 1 Sold 1,000 shares at $11 per share. Sold 1,000 shares at $7 per share. 1っaa Concord Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $35,000. () Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (Listall debi entries before credit.entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Treasury Stock Cash Cash ए.२unp Treasury Stock Pald-In…
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On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 241,000 shares issued $241,000 Paid-in capital-excess of par, common 482,000 Paid-in capital-excess of par, preferred. 195,000 Preferred stock, $100 par, 19,500 shares outstanding 1,950,000 Retained earnings Treasury stock, at cost, 4,100 shares 3,900,000 20,500 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 28: Required: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date.. Declared and distributed a 4% stock dividend on…
Pet Boutique Corp, reported $4,365.410 of profit for 2023. On November 2, 2023, it declared and paid the annual preferred dividends of $283,560 On January 1, 2023, Pet Boutique had 111,410 and 567,000 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year: Feb. 1 Declared and issued a 20% common share dividend. Apr.30 Sold 111,060 common shares for cash. May 1 Sold 45,550 preferred shares for cash. Oct. 31 Sold 32,760 common shares for cash. a. What is the amount of profit available for distribution to the common shareholders? Earnings available to common shareholders $ 4,081,850 Check my wark b. What is the weighted-average number of common shares for the year?
Vikrambhai
The following information is available for ConocoPhillips on December 31, 2022: Common Stock, $1.75 par, 400,000 shares authorized Additional Paid in Capital - Common Stock Retained Earnings Total Stockholders' Equity During 2023, ConocoPhillips completed these transactions (in chronological order): 1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a market price of $20 per share. 2) Issued 2,400 shares of common stock at the price of $18 per share. 3) Net Income for the year was $410,400. Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023: Select one: O O $651,000 840,000 756,000 $2,247.000 a. $1,014,780 b. $1,025,000 c. $1,032,000 d. $975,780 e. $879,000 4
The shareholder's equity section of Chen Industries Limited at November 30, 2022 is shown below: Shareholders' Equity $1.00 cumulative preferred shares, 2,000 shares issued $ 60,000 Common shares, 5,000 shares issued 30,000 Retained earnings 122,000 $212,000 During 2023 the company completed the following transactions: February 10 Declared a regular cash dividend on the preferred shares. March 10 Paid the cash dividend April 14 Declared a 10% stock dividend on the common shares. Market price per common share was $10/ share May 14 Distributed the stock dividend July 10 Issued 5,000 common shares for $8/ share November 20 Received equipment valued at $50,000 and issued 5,000 common shares. REQUIRED: 1. Journalize Chen's transactions. Explanations are not required. 2. Prepare the shareholder's equity section of Chen Industries Limited balance sheet at November 30, 2023. Net income for the year ended November 30, 2023 was $175,000.

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