ZuoTi.Pro
Question

The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock...

The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows.

Preferred Stock (6%, $100 par noncumulative, 4,250 shares authorized) $255,000
Common Stock ($3 stated value, 350,000 shares authorized) 875,000
Paid-in Capital in Excess of Par Value—Preferred Stock 12,750
Paid-in Capital in Excess of Stated Value—Common Stock 560,000
Retained Earnings 686,000
Treasury Stock (4,250 common shares) 34,000


During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity.

Feb. 1 Issued 5,440 shares of common stock for $32,640.
Mar. 20 Purchased 1,500 additional shares of common treasury stock at $9 per share.
Oct. 1 Declared a 6% cash dividend on preferred stock, payable November 1.
Nov. 1 Paid the dividend declared on October 1.
Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.
Dec. 31 Determined that net income for the year was $275,600. Paid the dividend declared on December 1.

Calculate the payout ratio, earnings per share, and return on common stockholders’ equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.)

Payout ratio

enter the payout ratio in percentages rounded to 1 decimal place

 %
Earnings per share

$enter earnings per share in dollars rounded to 2 decimal places
Return on common stockholders’ equity

enter the return on common stockholders' equity ratio in percentages rounded to 1 decimal place

 %
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answe? Page No 9 Paryodan syabic Dividends declared - dividendend declaredeshares x shares outzlanding Shares out sfanding aPage No ③ karniaga para share Net income = $275600 Peterred dividend = 255000 X 6% - $ 15300 Average common isfacks shares -Page No ③ =$0.90 1. Fornings per share = $0.90 Relien en comment kockholderes eget Begioning stockholders equity a $845000 +Page No (4) Ending stock holders equily = 891330 + 581460 + 800621 - 47500 = $ 2206.201 2087000 + 222620) el der verage commo

0 0
Add a comment
Know the answer?
Add Answer to:
The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock...

    The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,250 shares authorized) $255,000 Common Stock ($3 stated value, 350,000 shares authorized) 875,000 Paid-in Capital in Excess of Par Value—Preferred Stock 12,750 Paid-in Capital in Excess of Stated Value—Common Stock 560,000 Retained Earnings 686,000 Treasury Stock (4,250 common shares) 34,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,440 shares...

  • The stockholders’ equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock...

    The stockholders’ equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value—Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value—Common Stock 480,000 Retained Earnings 688,000 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,000 shares...

  • The stockholders' equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock...

    The stockholders' equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,350 shares authorized) $261,000 Common Stock ($5 stated value, 291,000 shares authorized) 1,212,500 Paid-in Capital in Excess of Par Value-Preferred Stock 13,050 Paid-in Capital in Excess of Stated Value-Common Stock 465,600 Retained Earnings 710,000 Treasury Stock (4,350 common shares) 34,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,670 shares...

  • The stockholders’ equity accounts of Novak Corp. on January 1, 2017, were as follows. Preferred Stock...

    The stockholders’ equity accounts of Novak Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value—Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value—Common Stock 480,000 Retained Earnings 692,000 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,000 shares...

  • The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock...

    The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 11,000 shares authorized) Common Stock ($4 stated value, 660,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (11,000 common shares) $660,000 2,200,000 33,000 1,056,000 1,513,600 88,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 11,000 shares...

  • The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $...

    The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 6,000 shares authorized) $360,000 Common Stock ($4 stated value, 360,000 shares authorized) 1,200,000 Paid-in Capital in Excess of Par Value-Preferred Stock 18,000 Paid-in Capital in Excess of Stated Value-Common Stock 576,000 Retained Earnings 825,600 Treasury Stock (6,000 common shares) 48,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 6,000 shares of...

  • The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred...

    The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 6,000 shares authorized) Common Stock ($4 stated value, 360,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (6,000 common shares) $360,000 1,200,000 18,000 576,000 825,600 48,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 6,000...

  • The stockholders’ equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred...

    The stockholders’ equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 13,000 shares authorized). 780,000 Common Stock ($4 stated value, 780,000 shares authorized). 2,600,000 Paid-in Capital in Excess of Par Value—Preferred Stock. 39,000 Paid-in Capital in Excess of Stated Value—Common Stock. 1,248,000 Retained Earnings. 1,788,800 Treasury Stock (13,000 common shares). 104,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 13,000...

  • The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock...

    The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) $240,000 Common Stock ($5 stated value, 326,000 shares authorized) 1,358,333 Paid-in Capital in Excess of Par Value—Preferred Stock 12,000 Paid-in Capital in Excess of Stated Value—Common Stock 521,600 Retained Earnings 711,000 Treasury Stock (4,000 common shares) 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 4,620 shares...

  • The stockholders’ equity accounts of Marigold Corp. on January 1, 2017, were as follows. Preferred Stock...

    The stockholders’ equity accounts of Marigold Corp. on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,700 shares authorized) $282,000 Common Stock ($4 stated value, 325,000 shares authorized) 1,083,333 Paid-in Capital in Excess of Par Value—Preferred Stock 14,100 Paid-in Capital in Excess of Stated Value—Common Stock 520,000 Retained Earnings 701,000 Treasury Stock (4,700 common shares) 37,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,150 shares...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT