Homework Answers
Case A
| Year | Total paid | preferred | common |
| 20x3 allocation | 1,850,000 | ||
| Arrears | 340,000 | 0 | |
| Current | 170,000 | 1,340,000 | |
| Remainder | 0 | 0 | |
| Total | 1,850,000 | 510,000 | 1,340,000 |
| Year | Total Paid | Preferred | Common |
| 20X3 | 1,850,000 | ||
| Arrears | 340,000 | ||
| Current | 170,000 | 680000 | |
| Matching | 23000 | 632400 | |
| Remainder | 590 | 4010 | |
| Total | 533590 | 1316410 |
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In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.70 dividend:...
In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.90 dividend:...
In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.90 dividend: authorized, unlimited shares; issued, 100,000 shares Common shares, no-par value; authorized, unlimited shares; issued, 760,000 shares $1,400,000 1,064,000 No dividends were declared in 20X1 or 20x2, but $1,990,000 of dividends were declared in 20X3. Required: Calculate the amount of dividends that would be paid in 20x3 to each share class under the following separate cases: Case A Preferred shares are cumulative and non-participating. Total...
Item 10 10 points Print Item 10 A14-11 Dividends (LO 14-6) In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.00 dividend: authorized, unlimited shares; issued, 100,000 shares $ 1,300,0
Item 1010 points PrintItem 10 A14-11 Dividends (LO 14-6)In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.00 dividend: authorized, unlimited shares; issued, 100,000 shares $ 1,300,000 Common shares, no-par value; authorized, unlimited shares; issued, 400,000 shares 440,000 No dividends were declared in 20X1 or...
Massive Corp. is authorized to issue unlimited $0.80 no-par preferred shares and unlimited no-par common shares....
Massive Corp. is authorized to issue unlimited $0.80 no-par preferred shares and unlimited no-par common shares. There are 14,000 preferred and 42,000 common shares outstanding. In a five-year period, annual dividends paid were $1,000, $4,000, $74,000, $4,000, and $148,000, respectively. Required: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00. Case A Preferred shares are cumulative and non-participating....
On 31 December 20X5, Watercress Properties Ltd. reported the following in shareholders' equity: $2,932,500 Preferred shares,...
On 31 December 20X5, Watercress Properties Ltd. reported the following in shareholders' equity: $2,932,500 Preferred shares, no-par value; $1.00 dividend, authorized, unlimited shares; issued, 86,250 shares Common shares, no-par value; authorized, unlimited shares; issued, 345,000 shares Retained earnings 7,590,000 6,100,000 Dividends of $450,000 are declared in 20X6. Consider the following three cases: Case A Case B Preferred Dividends Last Cumulative? Paid in Preferred Participating? No 20X2 No 20x3 Yes, after common receive $0.50 per share; participation based on relative dividends...
hi there here is a question with solution. how did they calculate these numbers please *...
hi there here is a question with solution. how did they
calculate these numbers please
* A14-11 Dividends: In 20X3, Snowboard Ltd. had the follow board Ltd. had the following share capital outstanding: d shares, no-par value; $1.20 dividend: authorized, unlimited Preferred shares shares; issued, 100,000 share $1,250,000 shares, no-par value: authorized, unlimited shares, issued, Common shares, no 480,000 shares 642,000 were declared in 20X1 or 20X2, but $1.000.000 of dividends were declar No dividends were declared Required: ,000,000 of...
For all of 2019 and 2020, Gentry had the following stock issued and outstanding: Preferred: 7,000...
For all of 2019 and 2020, Gentry had the following stock issued and outstanding: Preferred: 7,000 shares, 5%, $50 par value per share Common: 8,000 shares, $20 par value per share For 2020, Gentry declared a dividend of $40,000. For 2019, Gentry paid a preferred dividend of $2,000. Required: (1) For each of the three independent cases below, find how the $40,000 dividend for 2020 is payable to preferred and common shareholders. Use a format similar to that provided for...
Michael Inc. is authorized to issue 50,000, 58, no par value, cumulative, fully participating preferred shares,...
Michael Inc. is authorized to issue 50,000, 58, no par value, cumulative, fully participating preferred shares, and 750,000 no par value common shares. Prepare journal entries to record the following transactions that occurred during the first year of operations: Jan 10 Sold 96,000 common shares for S8 per share, cash 15 Exchangod 10.000 preferred shares for equipment with a fair market value of $80,000 Feb. 1 Exchanged 500 common shares for $2.500 worth of legal fees incurred during organization On...
12-4A $1,560,000 462,000 $2,022,000 Contributed capital Preferred shares. $17 cumulative, issued, and outstanding....... Common shares, unlimited...
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...
Crane, Inc. has $500,000, $0.50, no par value preferred shares (50,000 shares) and $1,000,000 of no...
Crane, Inc. has $500,000, $0.50, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2018 and 2019. The company wants to distribute $368,000 in dividends on December 31, 2020. 1. Calculate the amount of dividends to be paid to each group of shareholders (i.e. preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common Total dividends $ $ 2. Calculate the...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
In 20X3, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no-par value; $1.90 dividend: authorized, unlimited shares; issued, 100,000 shares Common shares, no-par value; authorized, unlimited shares; issued, 760,000 shares $1,400,000 1,064,000 No dividends were declared in 20X1 or 20x2, but $1,990,000 of dividends were declared in 20X3. Required: Calculate the amount of dividends that would be paid in 20x3 to each share class under the following separate cases: Case A Preferred shares are cumulative and non-participating. Total...
Massive Corp. is authorized to issue unlimited $0.80 no-par preferred shares and unlimited no-par common shares. There are 14,000 preferred and 42,000 common shares outstanding. In a five-year period, annual dividends paid were $1,000, $4,000, $74,000, $4,000, and $148,000, respectively. Required: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00. Case A Preferred shares are cumulative and non-participating....
On 31 December 20X5, Watercress Properties Ltd. reported the following in shareholders' equity: $2,932,500 Preferred shares, no-par value; $1.00 dividend, authorized, unlimited shares; issued, 86,250 shares Common shares, no-par value; authorized, unlimited shares; issued, 345,000 shares Retained earnings 7,590,000 6,100,000 Dividends of $450,000 are declared in 20X6. Consider the following three cases: Case A Case B Preferred Dividends Last Cumulative? Paid in Preferred Participating? No 20X2 No 20x3 Yes, after common receive $0.50 per share; participation based on relative dividends...
hi there here is a question with solution. how did they
calculate these numbers please
* A14-11 Dividends: In 20X3, Snowboard Ltd. had the follow board Ltd. had the following share capital outstanding: d shares, no-par value; $1.20 dividend: authorized, unlimited Preferred shares shares; issued, 100,000 share $1,250,000 shares, no-par value: authorized, unlimited shares, issued, Common shares, no 480,000 shares 642,000 were declared in 20X1 or 20X2, but $1.000.000 of dividends were declar No dividends were declared Required: ,000,000 of...
For all of 2019 and 2020, Gentry had the following stock issued and outstanding: Preferred: 7,000 shares, 5%, $50 par value per share Common: 8,000 shares, $20 par value per share For 2020, Gentry declared a dividend of $40,000. For 2019, Gentry paid a preferred dividend of $2,000. Required: (1) For each of the three independent cases below, find how the $40,000 dividend for 2020 is payable to preferred and common shareholders. Use a format similar to that provided for...
Michael Inc. is authorized to issue 50,000, 58, no par value, cumulative, fully participating preferred shares, and 750,000 no par value common shares. Prepare journal entries to record the following transactions that occurred during the first year of operations: Jan 10 Sold 96,000 common shares for S8 per share, cash 15 Exchangod 10.000 preferred shares for equipment with a fair market value of $80,000 Feb. 1 Exchanged 500 common shares for $2.500 worth of legal fees incurred during organization On...
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...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
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