Homework Answers
| Preferred | Common | Total | |
| Dividend | $64,400 (28,000*$1.15*2) | $427,754 ($492,154-64,400) | $492,154 |
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Question 6 Sheffield United's ledger shows the following balances on December 31, 2020: Preferred shares outstanding:...
Ayayai Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 15,000 shares...
Ayayai Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 15,000 shares $ 300,000 Common shares outstanding: 30,000 shares 2,100,000 Retained earnings 570,000 Assuming that the directors decide to declare total dividends in the amount of $285,000, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.00 per share. (Round...
McNamara Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 25,000 shares...
McNamara Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 25,000 shares $ 625,000 Common shares outstanding: 40,000 shares 3,000,000 Retained earnings 890,000 Instructions Assuming that the directors decide to declare total dividends in the amount of $445,000, determine how much each class of shares should receive under each of the conditions that follow. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.50 per share. a. The...
Bonita Company's ledger shows the following balances on December 31, 2017. 6% Preferred Stock-$10 par value,...
Bonita Company's ledger shows the following balances on December 31, 2017. 6% Preferred Stock-$10 par value, outstanding 21,500 shares Common Stock-$100 par value, outstanding 29,100 shares Retained Earnings $215,000 2,910,000 647,000 Assuming that the directors decide to declare total dividends in the amount of $398,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating....
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2020. 4% Preferred Stock-$10...
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2020. 4% Preferred Stock-$10 par value, outstanding 20,000 shares Common Stock-$100 par value, outstanding 32,100 shares Retained Earnings $ 200,000 3,210,000 652,000 Assuming that the directors decide to declare total dividends in the amount of $360,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Sarasota Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10 par value,...
Sarasota Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10 par value, outstanding 20,700 shares Common Stock-$100 par value, outstanding 27,700 shares Retained Earnings $ 207,000 2,770,000 569,000 Assuming that the directors decide to declare total dividends in the amount of $336,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully...
Exercise 15-22 Sweet Company's ledger shows the following balances on December 31, 2020. 7% Preferred Stock-$10...
Exercise 15-22 Sweet Company's ledger shows the following balances on December 31, 2020. 7% Preferred Stock-$10 par value, outstanding 18,000 shares Common Stock-$100 par value, outstanding 28,800 shares Retained Earnings $ 180,000 2,880,000 581,000 Assuming that the directors decide to declare total dividends in the amount of $391,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Blue Company’s ledger shows the following balances on December 31, 2020. 8% Preferred Stock—$10 par value,...
Blue Company’s ledger shows the following balances on December 31, 2020. 8% Preferred Stock—$10 par value, outstanding 20,700 shares $ 207,000 Common Stock—$100 par value, outstanding 30,300 shares 3,030,000 Retained Earnings 654,000 Assuming that the directors decide to declare total dividends in the amount of $332,000, determine how much each class of stock should receive under each of the conditions stated below. One year‘s dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully...
Bonita Company’s ledger shows the following balances on December 31, 2020. 7% Preferred Stock—$10 par value,...
Bonita Company’s ledger shows the following balances on December 31, 2020. 7% Preferred Stock—$10 par value, outstanding 21800 shares $ 218000 Common Stock—$100 par value, outstanding 32300 shares 3230000 Retained Earnings 572000 Assuming that the directors decide to declare total dividends in the amount of $346000, determine how much each class of stock should receive under each of the conditions stated below. One year‘s dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully...
Exercise 15-22 Cheyenne Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10...
Exercise 15-22 Cheyenne Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10 par value, outstanding 18,200 shares Common Stock-$100 par value, outstanding 32,400 shares Retained Earnings $ 182,000 3,240,000 684,000 Assuming that the directors decide to declare total dividends in the amount of $333,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2017. 7% Preferred Stock-$10...
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2017. 7% Preferred Stock-$10 par value, outstanding 21,700 shares Common Stock-$100 par value, outstanding 32,700 shares Retained Earnings $ 217,000 3,270,000 593,000 Assuming that the directors decide to declare total dividends in the amount of $383,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Ayayai Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 15,000 shares $ 300,000 Common shares outstanding: 30,000 shares 2,100,000 Retained earnings 570,000 Assuming that the directors decide to declare total dividends in the amount of $285,000, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.00 per share. (Round...
Bonita Company's ledger shows the following balances on December 31, 2017. 6% Preferred Stock-$10 par value, outstanding 21,500 shares Common Stock-$100 par value, outstanding 29,100 shares Retained Earnings $215,000 2,910,000 647,000 Assuming that the directors decide to declare total dividends in the amount of $398,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating....
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2020. 4% Preferred Stock-$10 par value, outstanding 20,000 shares Common Stock-$100 par value, outstanding 32,100 shares Retained Earnings $ 200,000 3,210,000 652,000 Assuming that the directors decide to declare total dividends in the amount of $360,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Sarasota Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10 par value, outstanding 20,700 shares Common Stock-$100 par value, outstanding 27,700 shares Retained Earnings $ 207,000 2,770,000 569,000 Assuming that the directors decide to declare total dividends in the amount of $336,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully...
Exercise 15-22 Sweet Company's ledger shows the following balances on December 31, 2020. 7% Preferred Stock-$10 par value, outstanding 18,000 shares Common Stock-$100 par value, outstanding 28,800 shares Retained Earnings $ 180,000 2,880,000 581,000 Assuming that the directors decide to declare total dividends in the amount of $391,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Exercise 15-22 Cheyenne Company's ledger shows the following balances on December 31, 2017. 4% Preferred Stock-$10 par value, outstanding 18,200 shares Common Stock-$100 par value, outstanding 32,400 shares Retained Earnings $ 182,000 3,240,000 684,000 Assuming that the directors decide to declare total dividends in the amount of $333,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
Exercise 15-22 Sage Company's ledger shows the following balances on December 31, 2017. 7% Preferred Stock-$10 par value, outstanding 21,700 shares Common Stock-$100 par value, outstanding 32,700 shares Retained Earnings $ 217,000 3,270,000 593,000 Assuming that the directors decide to declare total dividends in the amount of $383,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative...
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