At January 1, 2017, Pronghorn Company’s outstanding shares
included the following. 262,000 shares of $50 par...
At January 1, 2017, Pronghorn Company’s outstanding shares
included the following. 262,000 shares of $50 par value, 7%
cumulative preferred stock 826,000 shares of $1 par value common
stock Net income for 2017 was $2,542,000. No cash dividends were
declared or paid during 2017. On February 15, 2018, however, all
preferred dividends in arrears were paid, together with a 5% stock
dividend on common shares. There were no dividends in arrears prior
to 2017. On April 1, 2017, 456,000 shares...
At January 1, 2020, Cullumber Company’s outstanding shares
included the following.
290,000 shares of $50 par...
At January 1, 2020, Cullumber Company’s outstanding shares
included the following.
290,000 shares of $50 par value, 7% cumulative preferred
stock
969,000 shares of $1 par value common stock
Net income for 2020 was $2,564,000. No cash dividends were declared
or paid during 2020. On February 15, 2021, however, all preferred
dividends in arrears were paid, together with a 5% stock dividend
on common shares. There were no dividends in arrears prior to
2020.
On April 1, 2020, 479,000 shares...
At January 1, 2020, Skysong Company’s outstanding shares
included the following.
276,000 shares of $50 par...
At January 1, 2020, Skysong Company’s outstanding shares
included the following.
276,000 shares of $50 par value, 6% cumulative preferred
stock
940,000 shares of $1 par value common stock
Net income for 2020 was $2,512,000. No cash dividends were declared
or paid during 2020. On February 15, 2021, however, all preferred
dividends in arrears were paid, together with a 5% stock dividend
on common shares. There were no dividends in arrears prior to
2020.
On April 1, 2020, 408,000 shares...
Question 41
Macintyre, Inc., has outstanding 10,000 shares of $50 par value,
6% nonparticipating, cumulative preferred...
Question 41
Macintyre, Inc., has outstanding 10,000 shares of $50 par value,
6% nonparticipating, cumulative preferred stock and 16,000 shares
of $10 par value common stock.
If the dividend on preferred stock is two years in arrears, and the
total cash dividend declared this year is $170,000, then the total
amounts distributed to preferred and common stockholders,
respectively, are:
A.
$90,000 and $80,000
B.
$60,000 and $110,000
C.
$54,000 and $116,000
D.
$27,000 and $143,000
4) Wedge Corporation has
the following capital stock outstanding:
Common stock, par $1, with 250,000 shares outstanding...
4) Wedge Corporation has
the following capital stock outstanding:
Common stock, par $1, with 250,000 shares outstanding for a
total par value of $250,000.
8% preferred stock, par $100, with 5,000 shares outstanding,
cumulative, for a total par value of
$500,000. They have not received dividends in 2 years
prior to this current year.
Part A:
A
cash dividend of $150,000 was declared and paid near the end of the
current year. Calculate, showing supporting calculations, the
current year’s dividend and...
York’s outstanding stock consists of 85,000 shares of
noncumulative 6.0% preferred stock with a $5 par...
York’s outstanding stock consists of 85,000 shares of
noncumulative 6.0% preferred stock with a $5 par value and
also 150,000 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
$
13,900
2016 total cash dividends
23,500
2017 total cash dividends
280,000
2018 total cash dividends
430,000
Determine the amount of dividends paid each year to each of the...
Question 42
Ridgeway, Inc., has outstanding 10,000 shares of $100 par value,
6% nonparticipating, cumulative preferred...
Question 42
Ridgeway, Inc., has outstanding 10,000 shares of $100 par value,
6% nonparticipating, cumulative preferred stock and 16,000 shares
of $20 par value common stock.
If the dividend on preferred stock is two years in arrears, and the
total cash dividend declared this year is $340,000, then the total
amounts distributed to preferred and common stockholders,
respectively, are:
A.
$54,000 and $286,000
B.
$108,000 and $232,000
C.
$127,500 and $212,500
D.
$180,000 and $160,000
Question 2
Rachel’s Designs has 1,700 shares of 5%, $50 par value
cumulative preferred stock issued...
Question 2
Rachel’s Designs has 1,700 shares of 5%, $50 par value
cumulative preferred stock issued at the beginning of 2016. All
remaining shares are common stock. Due to cash flow difficulties,
the company was not able to pay dividends in 2016 or 2017. The
company plans to pay total dividends of $14,000 in 2018. How much
of the $14,000 dividend will be paid to preferred stockholders and
how much will be paid to common stockholders?
Preferred dividends for 2018...
please show all steps
AAA Company has the following shares issued and outstanding:
2000 Preferred shares,...
please show all steps
AAA Company has the following shares issued and outstanding:
2000 Preferred shares, $10, cumulative 40000 Common shares
Dividends were not paid to the preferred shareholders in the
previous three years. In the current year, the Board of Directors
declared a $92,000 cash dividend.
REQUIRED: Determine the total dividends paid to each class of
shares
REQUIRED: Determine the total dividends paid to each class and
the dividend per share to both common and preferred
shareholders.
A company has $10 par common stock outstanding with a total par
value of $4,000,000 and...
A company has $10 par common stock outstanding with a total par
value of $4,000,000 and 5%, $50 par cumulative, nonparticipating
preferred stock with a total par value of $3,000,000. No dividend
was declared on the stock in the last year. In the current year,
the company earned a net income of $1,700,000 and dividends paid,
included a dividend of $3 per share on the common stock. What is
the total amount of dividend paid to shareholders in the current...