3. If the common shares were issued at $30 per share, at what average price per share were the preferred shares issued?
Answer is given below
3. If the common shares were issued at $30 per share, at what average price per share were the preferred shares issued?
Calculate the average per share amount of the preferred and common shares at January 1, 2021. WileyPLUS Problem 13-3 Manion Merchandising Inc. had the following share capital and balances on January 1, 2021. $1,670,000 $2.50 cumulative preferred shares, convertible into common shares at a ratio of 4 common shares for 1 preferred share, unlimited number of shares authorized, 100,000 shares issued Common shares, unlimited number of shares authorized, 700,000 shares issued 2,450,000 The following transactions relating to shares occurred in...
1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. If the common shares were issued at $15 per share, at what average price per share were the preferred shares issued? 4. If retained earnings at the beginning of the period was $235 million and $15 million was paid in dividends during the year, what was the net income for the year? The stockholders' equity section of Velcro World...
Dividends Per Share Windborn Company has 30,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: Year 1 Year 2 Year 3 $270,000 67,500 405,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'o'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ Common stock...
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible into 90,000 common shares. On October 1, 2018, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2018, there were 25,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 25,000 shares of common stock at an exercise...
Having trouble with the ratio for the book value for the common share, preferred share, earnings per share and the price earnings ratio. Not sure where i am going wrong. Other information No dividends were declared or paid for the years ended October 31, 2017 and 2016. 1. The market value per common share at October 31, 2017 and 2016 were $29 and $25 respectively. 2. Book value per common 14.91 share Book value per preferred $22.00 share Earnings per...
On January 1, 2021, Tonge Industries had outstanding 720,000 common shares ($1 par) that originally sold for $30 per share, and 6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares.On October 1, 2021, Tonge sold and issued an additional 16,000 shares of common stock at $39. At December 31, 2021, there were 23,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 23,000 shares of common stock at an exercise price of...
Preferred stock—5% cumulative, $25 par value, $30 callprice, 10,000 shares issued and outstanding $ 250,000 Common stock—$10 par value, 45,000 shares issued and outstanding 450,000 Retained earnings 267,500 Total stockholders’ equity $ 967,500 Determine the book value per share of the preferred and common stock under two separate situations. 1. No preferred dividends are in arrears. Preferred stock—5% cumulative, $25 par value, $30 callprice, 10,000 shares issued and outstanding $ 250,000 Common stock—$10 par value, 45,000 shares issued and outstanding...
12-4A $1,560,000 462,000 $2,022,000 Contributed capital Preferred shares. $17 cumulative, issued, and outstanding....... Common shares, unlimited shares authorized, 40.000 shares issued and outstanding Total contributed capital vertible into common a referred are converted int ity section of the balan Retained earings Total equity balance shoes he company plans to pay quired Refer to the equity section above. Assume that the preferred are convertible of eight common shares for each share of preferred. If on April 1, 2020, prepare the entry...
Flint Corporation’s charter authorizes the issuance of 1 million common shares and 450,000 preferred shares that have a dividend rate of $6 per share per year. The following transactions involving share issues were completed. Assume that Flint follows IFRS and that each transaction is independent of the others. 1. Issued 4,500 common shares for machinery. The machinery had been appraised at $74,700, and the seller’s carrying amount was $58,600. The common shares’ most recent market price is $22 a share....
The shares of preferred stock issued by Saturn Corporation can be exchanged for common stock. However, any dividends in arrears are lost. Which of the following features are present in the preferred stock issued by Saturn? Select all answers that apply to this question. Convertible Redeemable Cumulative Noncumulative EyeCare Corporation issued 10,000 shares of 7%, $100 par value preferred stock at the beginning of Year 1. The company did not pay dividends in Year 1. However, preferred stockholders received dividends...