Culver Limited reported profit of $497,290 for its November 30, 2021, year end. Cash dividends of $87,700 on the common shares and $61,800 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Culver's common shares:
Dec. 1, 2020 | The opening number of common shares was 63,100. | |
Feb. 28, 2021 | Sold 9,400 common shares for $169,200 cash. | |
May 31, 2021 | Reacquired 4,700 common shares for $75,200 cash. | |
Nov. 1, 2021 | Issued 14,100 common shares in exchange for land with a fair value of $290,000. |
(a)
Calculate the profit available to common shareholders.
Profit available to common shareholders | $enter the Profit available to common shareholders in dollars |
a)
Total Profit for November 30, 2021 | $497,290 |
Less: Preferred Dividends | ($61,800) |
Profits available to common shareholders | $435,490 |
Culver Limited reported profit of $497,290 for its November 30, 2021, year end. Cash dividends of...
1. Blue Spruce Limited reported profit of $436,010 for its November 30, 2021, year end. Cash dividends of $64,200 on the common shares and $69,500 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Blue Spruce's common shares: Dec. 1, 2020 The opening number of common shares was 54,200. Feb. 28, 2021 Sold 9,200 common shares for $165,600 cash. May 31, 2021 Reacquired 4,600 common shares for $73,600 cash. Nov. 1,...
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