Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred...
Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred stocked and 100,000 shares
of $1 par value common stock. See the following transactions that
occurred during the year:
Jan 18: Issued for cash 30,000 shares of common stock at $10 per
share.
Feb 14: Issued 4,000 shares of preferred stock for $400,000.
Sept 20: Declared dividends on preferred stock of $5 per share.
Dec 18: Paid cash dividend declared...
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016,...
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016, at $30 per
share.
426,000 shares of $90 par value, 10.00% cumulative, preferred
stock were authorized, and 130,000 shares were issued on January 1,
2016, at $133 per share.
Net income for the years ended December 31, 2016, 2017, and
2018, was $4,680,000, $7,040,000, and $9,160,000,
respectively.
No dividends were declared or paid during 2016 or 2017.
However, on December 17, 2018, the board...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at
par.
2. Issued 640 shares of $80 par value preferred stock in
exchange for land that had an appraised value of $81,600.
3. Issued 19,000 shares of $4 par value common stock for $10 per
share.
4. Purchased 4,750 shares of common stock for the treasury at
$10 per share.
5. Sold 1,900 shares of the treasury stock purchased in
transaction d for $12...
Preferred stock— $25 par value, 10,000 shares authorized, 5,200
shares issued and outstanding
$
130,000
Common...
Preferred stock— $25 par value, 10,000 shares authorized, 5,200
shares issued and outstanding
$
130,000
Common stock—$10 par value, 100,000 shares authorized, 80,000
shares issued and outstanding
800,000
Total paid-in capital
$
930,000
Retained earnings
550,000
Total stockholders’ equity
$
1,480,000
The number of issued and outstanding shares of both preferred and
common stock have been the same for the last two years. Dividends
on preferred stock are 8 percent of par value and have been paid
each year the...
B&J Corporation was established in 2016. B&J has
authorized 50,000 shares of common stock, par value...
B&J Corporation was established in 2016. B&J has
authorized 50,000 shares of common stock, par value $2 per share,
and 10,000 authorized shares of 6% preferred stock, par value $10
per share. Net Income for 2016 was $210,000. The following
transactions took place during 2016:
January 1
Issued 30,000 shares of common stock for cash at $20 per
share.
February 1
Issued 8,000 shares of preferred stock for cash of $50 per
share.
June 1
Repurchased 4,000 shares of L&D...
Refer to the following transactions.
Sold 4,400 shares of $44 par value 7% preferred stock at...
Refer to the following transactions.
Sold 4,400 shares of $44 par value 7% preferred stock at
par.
Declared the annual dividend on the preferred stock.
Purchased 550 shares of preferred stock for the treasury at $53
per share.
Issued 1,500 shares of $2 par value common stock in exchange
for land valued at $116,000.
Sold 262 shares of the treasury stock purchased in transaction
c for $57 per share.
Split the common stock 2-for-1.
Prepare the journal entries to record...
Book Value for Preferred and Common Stock The stockholders'
equity section of Plaka Corporation's balance sheet...
Book Value for Preferred and Common Stock The stockholders'
equity section of Plaka Corporation's balance sheet follows.
Contributed capital: Preferred stock, $100 par value, callable at
$105 per share, 6 percent cumulative, 5,000 shares authorized, 100
shares issued and outstanding $10,000 Common stock, $5 par value,
50,000 shares authorized, 5,000 shares issued, 4,500 shares
outstanding 25,000 Additional paid-in capital 14,000 Total
contributed capital $49,000 Retained earnings 47,500 Total
contributed capital and retained earnings $96,500 Less treasury
stock, common (500 shares...
PLEASE ANSWER FULLY! THANK YOU
As of January
2016, Magna Refrigeration Co has 6% Preferred stock,
$100...
PLEASE ANSWER FULLY! THANK YOU
As of January
2016, Magna Refrigeration Co has 6% Preferred stock,
$100 par value 10,000 shares issued and outstanding;
Common stock, $5 par value, 100,000 shares issued and
outstanding.(50 points)
The
following dividends were declared and paid in
2016, 2017 and 2018
2015
No dividends were declared and paid
· 2016
$15,000
· 2017
$40,000
· 2018
$110,000
a) Assuming the preferred stock were
non-cumulative, how much dividends did preferred and common
stockholders receive for each year dividends were
declared. ...
During its first year of operations, Cole's Electronics Inc.
completed the following transactions relating to shareholders'...
During its first year of operations, Cole's Electronics Inc.
completed the following transactions relating to shareholders'
equity.
January
5:
Issued 2,400,000 shares of common stock for $21 per share.
February
12:
Issued 16,000 shares of common stock to accountants for $336,000
of professional services.
The articles of incorporation authorize 5,000,000 shares of common
stock with a par of $1 per share and 1,000,000 preferred shares
with a par of $100 per share.
Required:
Record the above transactions in general journal...
A corporation has the following:
6% Preferred Stock, $50 par, 500,000 shares
authorized,
100,000 issued and...
A corporation has the following:
6% Preferred Stock, $50 par, 500,000 shares
authorized,
100,000 issued and outstanding
Common Stock, $2 par, 8,000,000 shares
authorized,
5,000,000 issued and outstanding
The company paid $750,000 of dividends in
2019. Calculate the amounts paid
to the preferred and common shareholders.
Determine the amount paid to each class of stock
listed above if the preferred stock is cumulative and
no dividends were paid in 2017 or 2018
What is the dollar impact an any potential 2020...