Homework Answers
Solution:
Basic earning per share = (Net income - Preferred dividend) / Outstanding shares = ($600,000 - $20,000) / 250000 = $2.32 per share
Hence 2nd option is correct.
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Leo of its com Help Save & Ext Submit Rotein Corp. had the same capital structure...
6. The following a Following accounts and balances are from the accounting records of Bronx CC...
6. The following a Following accounts and balances are from the accounting records of Bronx CC Inc, as of December 31, 2001 Fifty thousand shares of common stock are authorized, 30,000 shares are issued and 5,000 shares have been reacquired. Thirty thousand shares of preferred stock are authorized, 5,000 shares are issued and outstanding. Paid-In Capital in Excess of Par - Common 250,000 400,000 Bonds Payable Preferred Stock, $100 par, 9% cumulative 500,000 100,000 Cash 50,000 Common Stock Dividends Distributable...
Required information (The following information applies to the questions displayed below.] Permabilt Corp. was incorporated on...
Required information (The following information applies to the questions displayed below.] Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: • 2,000,000 shares of no-par common stock were authorized; 750,000 shares were issued on January 1, 2019, at $35 per share. • 800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized; 540,000 shares were issued on January 1, 2019, at $105 per share. • No dividends were declared or paid during...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (10,000 shares issued) $1,000,000 Common Stock (300,000 shares issued) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 200,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Retained Earnings 2,860,000 A review of the accounting records reveals this information: 1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2021, 10,000 shares have been...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (10,000 shares issued) $1,000,000 Common Stock (300,000 shares issued) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 200,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Retained Eamings 2,860,000 A review of the accounting records reveals this information: • 1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2021, 10,000 shares have...
This question is for Cumulative Clinton Corporation is in its third year of operation and has...
This question is for Cumulative
Clinton Corporation is in its third year of operation and has provided to you the following information relating to the contributed capital of the corporation. Common stock has been authorized in the amount of 5,000,000 shares. 500,000 shares have been issued and 200,000 are outstanding. The par value is $20 per share and was sold at $25 per share. Preferred stock has been authorized in the amount of 800,000 shares. 200,000 have been issued and...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5 par common stock issued and...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
$6,775,000
Additional Paid-in Capital
1,785,000
Retained Earnings
1,185,000
On January 10, issued at $108 per
share 120,000 shares of $103 par value, 7% cumulative preferred
stock.
On February 8, reacquired 17,200
shares of its common stock...
Please help with 2 and 3. Thank you! 2. ABC, Inc. has 4,000 shares of 6%,...
Please help with 2 and 3. Thank you!
2. ABC, Inc. has 4,000 shares of 6%, $50 par value cumulative preferred stock issued at the beginning of 2016 and 200 shares of cumulative preferred Treasury Stock. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2016. The company plans to pay total dividends of $20,000 in 2017. How much of the $20,000 dividend will be paid to preferred stockholders...
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued...
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2.000 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31. the company declared the following cash dividends: 2020, S6,000, 2021, $13,000, and 2022 S29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued...
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2020, $6,000, 2021, $13,000, and 2022 $29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued...
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2,000 shares of S50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2020, $6,000, 2021, $13,000, and 2022 $29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
6. The following a Following accounts and balances are from the accounting records of Bronx CC Inc, as of December 31, 2001 Fifty thousand shares of common stock are authorized, 30,000 shares are issued and 5,000 shares have been reacquired. Thirty thousand shares of preferred stock are authorized, 5,000 shares are issued and outstanding. Paid-In Capital in Excess of Par - Common 250,000 400,000 Bonds Payable Preferred Stock, $100 par, 9% cumulative 500,000 100,000 Cash 50,000 Common Stock Dividends Distributable...
Required information (The following information applies to the questions displayed below.] Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: • 2,000,000 shares of no-par common stock were authorized; 750,000 shares were issued on January 1, 2019, at $35 per share. • 800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized; 540,000 shares were issued on January 1, 2019, at $105 per share. • No dividends were declared or paid during...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (10,000 shares issued) $1,000,000 Common Stock (300,000 shares issued) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 200,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Retained Earnings 2,860,000 A review of the accounting records reveals this information: 1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2021, 10,000 shares have been...
The ledger of Smith Corporation at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (10,000 shares issued) $1,000,000 Common Stock (300,000 shares issued) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 200,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Retained Eamings 2,860,000 A review of the accounting records reveals this information: • 1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2021, 10,000 shares have...
This question is for Cumulative
Clinton Corporation is in its third year of operation and has provided to you the following information relating to the contributed capital of the corporation. Common stock has been authorized in the amount of 5,000,000 shares. 500,000 shares have been issued and 200,000 are outstanding. The par value is $20 per share and was sold at $25 per share. Preferred stock has been authorized in the amount of 800,000 shares. 200,000 have been issued and...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
$6,775,000
Additional Paid-in Capital
1,785,000
Retained Earnings
1,185,000
On January 10, issued at $108 per
share 120,000 shares of $103 par value, 7% cumulative preferred
stock.
On February 8, reacquired 17,200
shares of its common stock...
Please help with 2 and 3. Thank you!
2. ABC, Inc. has 4,000 shares of 6%, $50 par value cumulative preferred stock issued at the beginning of 2016 and 200 shares of cumulative preferred Treasury Stock. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2016. The company plans to pay total dividends of $20,000 in 2017. How much of the $20,000 dividend will be paid to preferred stockholders...
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2.000 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31. the company declared the following cash dividends: 2020, S6,000, 2021, $13,000, and 2022 S29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2020, $6,000, 2021, $13,000, and 2022 $29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
5. Fedco Corporation was organized on January 1, 2020. During its first year, the corporation issued 2,000 shares of S50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2020, $6,000, 2021, $13,000, and 2022 $29,000. Instructions: REQUIRED (12 points) Prepare a well-labeled schedule showing the allocation of dividends to each class of stock for each year, assuming the preferred stock dividend is 8% and cumulative....
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