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QUESTION 62 2.94 points Manning Inc. has 6,000 shares of 5%, $100 par value, cumulative, nonparticipating...
Johnlee Corporation has 11,000 shares of 7%, $5 par cumulative preferred stock and 50,000 shares of...
Johnlee Corporation has 11,000 shares of 7%, $5 par cumulative preferred stock and 50,000 shares of common stock outstanding. Johnlee declared no dividends in 2015 and had no dividends in arrears prior to 2015. In 2016, Johnlee declares a total dividend of $53,000. How much of the dividends go to the common stockholders? O A. $49, 150 OB. $53,000 O C. $45,300 OD. None; it all goes to preferred stockholders
Company XYZ has 2,000 shares of 6%, $100 par value, cumulative preferred stock and 4,000 common...
Company XYZ has 2,000 shares of 6%, $100 par value, cumulative preferred stock and 4,000 common shares outstanding. A $40,000 dividend is declared by the company's board of directors in the current financial report. Assuming there are $6,000 dividends in arrears from the previous financial year, what are the dividends paid to preferred shareholders and common shareholders, respectively? A. Preferred stock: $9 per share; Common stock: $7.5 per share B. Preferred stock: $6 per share; Common stock: $5.5 per share...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred stock. Preferred dividends are three years in arrears. Snowman Company has 200,000 shares of $0.50 par common stock issued and 50,000 shares of treasury stock. Total dividends declared in the current year are. $240,000. What is the dividend per share that common stockholders will receive (round to two decimals)? $1.10 $1.18 $1.48 O $1.57 O None of the above.
York's outstanding stock consists of 80,000 shares of cumulative 5% preferred stock with a $5 par...
York's outstanding stock consists of 80,000 shares of cumulative 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 2015 $ 20,000 2016 28,000 2017 200,000 2018 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine...
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...
Texas Inc. has 5,246 shares of 8%, $100 par value cumulative preferred stock and 89,366 shares of $1 par value common s...
Texas Inc. has 5,246 shares of 8%, $100 par value cumulative preferred stock and 89,366 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $41,968 in total b. $80.00 per share c. $7,149 in total d. $5,246 in total A company with 111,062 authorized shares of $8 par common stock issued 38,702 shares at $13 per share. Subsequently, the company declared a 2% stock dividend on a date...
On December 31, 2015, Alpha Córporation has outstanding 1,000 shares of $100 par value, 7% cumulative...
On December 31, 2015, Alpha Córporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use this information to determine for the 2016 the dollar amount of dividends that will be distributed to: 1. Preferred Stock 2. Common Stock
Torino Company has 10,000 shares of $5 par value, 4% cumulative and nonparticipating preferred stock and...
Torino Company has 10,000 shares of $5 par value, 4% cumulative and nonparticipating preferred stock and 100,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $1,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: $2,000 $4,000 $0 $1,000 $3,000
Question 11 (8 points) On December 31, 2015, Alpha Corporation has outstanding 1,000 shares of $100...
Question 11 (8 points) On December 31, 2015, Alpha Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use this information to determine for the 2016 the dollar amount of dividends that will be distributed to: 1. Preferred Stock 2. Common Stock Question 12 (6 points) On January 1, 2016, Alpha Corporation...
Preferred stock—5% cumulative, $25 par value, $30 callprice, 10,000 shares issued and outstanding $ 250,000 Common...
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...
Johnlee Corporation has 11,000 shares of 7%, $5 par cumulative preferred stock and 50,000 shares of common stock outstanding. Johnlee declared no dividends in 2015 and had no dividends in arrears prior to 2015. In 2016, Johnlee declares a total dividend of $53,000. How much of the dividends go to the common stockholders? O A. $49, 150 OB. $53,000 O C. $45,300 OD. None; it all goes to preferred stockholders
Company XYZ has 2,000 shares of 6%, $100 par value, cumulative preferred stock and 4,000 common shares outstanding. A $40,000 dividend is declared by the company's board of directors in the current financial report. Assuming there are $6,000 dividends in arrears from the previous financial year, what are the dividends paid to preferred shareholders and common shareholders, respectively? A. Preferred stock: $9 per share; Common stock: $7.5 per share B. Preferred stock: $6 per share; Common stock: $5.5 per share...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred stock. Preferred dividends are three years in arrears. Snowman Company has 200,000 shares of $0.50 par common stock issued and 50,000 shares of treasury stock. Total dividends declared in the current year are. $240,000. What is the dividend per share that common stockholders will receive (round to two decimals)? $1.10 $1.18 $1.48 O $1.57 O None of the above.
York's outstanding stock consists of 80,000 shares of cumulative 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 2015 $ 20,000 2016 28,000 2017 200,000 2018 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine...
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...
Texas Inc. has 5,246 shares of 8%, $100 par value cumulative preferred stock and 89,366 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $41,968 in total b. $80.00 per share c. $7,149 in total d. $5,246 in total A company with 111,062 authorized shares of $8 par common stock issued 38,702 shares at $13 per share. Subsequently, the company declared a 2% stock dividend on a date...
On December 31, 2015, Alpha Córporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use this information to determine for the 2016 the dollar amount of dividends that will be distributed to: 1. Preferred Stock 2. Common Stock
Question 11 (8 points) On December 31, 2015, Alpha Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use this information to determine for the 2016 the dollar amount of dividends that will be distributed to: 1. Preferred Stock 2. Common Stock Question 12 (6 points) On January 1, 2016, Alpha Corporation...
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