Par Value per Preferred Share |
Dividend rate |
Dividend per Preferred Share |
No. of Preferred Shares |
Preferred Dividend |
|
Annual Preferred Dividend: |
$ 5 |
7.00% |
$ 0.350 |
60,000 |
$ 21,000.00 |
Total Cash Dividend paid |
Paid to Preferred |
Paid to Common |
Dividends in Arrears at Year end |
||
Year 1 |
$ 10,900.00 |
$ 10,900.00 |
$ - |
$ 10,100.00 or $ 0 |
|
Year 2 |
$ 19,000.00 |
$ 19,000.00 |
$ - |
$ 12,100.00 or $ 0 |
|
Year 3 |
$ 205,000.00 |
$ 21,000.00 |
$ 184,000.00 |
$ - |
|
Year 4 |
$ 355,000.00 |
$ 21,000.00 |
$ 334,000.00 |
$ - |
|
TOTAL |
$ 589,900.00 |
$ 71,900.00 |
$ 518,000.00 |
$ - |
Requirement 1
Stockholder's equity section |
|
Common Stock (222000 shares) |
$740,000 |
Paid in Capital in excess of Par - Common Stock |
$320,000 |
Retained earnings |
$720,000 |
Total Stockholder's equity |
$1,780,000 |
Requirement 2
No of shares outstanding = 74000 shares x 3/1 = 222000 shares
Required information Use the following information for the Exercises below. {The following information applies to the...
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 200,000 660,000 $1,360,000 Exercise 13-6...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] York's outstanding stock consists of 60.000 shares of noncumulative 70% preferred stock with a $5 par value and also 210.000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends $ Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. York's outstanding stock consists of 70,000 shares of 6.0% preferred stock with a $5 par value and also 180,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: $ 2015 total cash dividends 2016 total cash dividends 2017 total cash dividends 2018 total cash...
Required information (The following information applies to the questions displayed below.] points On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 58,000 shares issued and outstanding $ 580,000 Paid-in capital in excess of par value, common stock 240,000 Retained earnings 680,000 Total stockholders' equity $1,500,000 Required: (1) Prepare the updated stockholders' equity...
Required information Use the following Information for the Exercises below. [The following Information applies to the questions displayed below.) York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200.000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends...
Required information Use the following information for the Exercises below [The following information applies to the questions displayed below.] York's outstanding stock consists of 60,000 shares of 7.0% preferred stock with a $5 par value and also 210,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends $ 10,900 19,000 205,000 355,000 2015 total cash dividends 2016 total cash dividends 2017 total cash...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Part 2 of 2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. 14.28 points 2016 total cash dividends 2017 total cash dividends $...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. 2016 total cash dividends 2017 total cash dividends $ 18,100 27,200 2018 total cash dividends...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. 2016 total cash dividends 2017 total cash dividends $ 18,100 27,200 2018 total cash dividends...
The following information applies to the questions displayed below.) On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 250,000 685,000 $1,535,000 Required: (1) Prepare the updated stockholders' equity section after the...