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45. Hays purchased 100 shares of Exxon Mobil on 10/28/2016 for $84.78 per share. On December...
On November 1, 2018, United Airlines purchases 10,000 shares of Exxon Mobil for $120 per share plus a total of $500 commission. These shares are classified as trading securities. On December 31, 2018, Exxon Mobil is trading for $110 per share. On January 5, Exxon pays shareholders $3 per share in dividends. On February 5, 2019 United Airlines sells the Exxon shares for $115 per share. United Airlines has a tax rate of 20%. Requirements: a. Show all the needed...
Today you buy 1,000 shares of in Exxon Mobil Corp. at $68.86 per share. After one quarter, the share price rises to $76.41 per share. At the end of this quarter, Exxon Mobil pays a cash dividend of $0.69 per share. Assume that you reinvest your cash dividends in Exxon Mobil stock. What is the percent increase in the number of shares that you hold? (Assume that fractional shares are available.)
Today you buy 1,000 shares of in Exxon Mobil Corp. at $66.59 per share. After one quarter, the share price rises to $83.78 per share. At the end of this quarter, Exxon Mobil pays a cash dividend of $1.45 per share. Assume that you reinvest your cash dividends in Exxon Mobil stock. What is the percent increase in the number of shares that you hold? (Assume that fractional shares are available.) Do not round values at intermediate steps in your...
On December 31, 2017, Dow Steel Corporation had 730,000 shares of common stock and 43,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $530,000 and $82,000 to common and proferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 60,000 common shares. Also, as a part of a 2017 agreement for the acquisition of Merrill Cable Company, another 24,000 shares...
On December 31, 2017, Dow Steel Corporation had 790,000 shares of common stock and 49,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $590,000 and $88,000 to common and preferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 72,000 common shares. Also, as a part of a 2017 agreement for the acquisition of Merrill Cable Company, another 19,000 shares...
On December 31, 2017, Dow Steel Corporation had 730,000 shares of common stock and 43,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $530,000 and $82,000 to common and preferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 60,000 common shares. Also, as a part of a 2017 agreement for the acquisition of Merrill Cable Company, another 24,000 shares...
On December 31, 2017, Dow Steel Corporation had 790,000 shares of common stock and 49,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $590,000 and $88,000 to common and preferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 72,000 common shares. Also, as a part of a 2017 agreement for the acquisition of Merrill Cable Company, another 19,000 shares...
On December 31, 2017, Dow Steel Corporation had 640,000 shares of common stock and 34,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $440,000 and $73,000 to common and preferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 57,000 common shares. Also, as a part of a 2017 agreement for the acquisition of Merrill Cable Company, another 27,000 shares...
On December 31, 2017, Berclair Inc. had 250 million shares of common stock and 10 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 90 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $500 million. Also outstanding at December...
On December 31, 2017, Berclair Inc. had 220 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $110 million. The income tax rate...