Question

1.Wildhorse Co. has 1300 shares of 8%, $100 par value, cumulative preferred stock and 65000 shares...

1.Wildhorse Co. has 1300 shares of 8%, $100 par value, cumulative preferred stock and 65000 shares of $1 par value common stock outstanding at December 31, 2020. What is the annual dividend on the preferred stock?

$10400 in total.

$80 per share.

$800 in total.

$0.80 per share.

2.The following selected amounts are available for Wildhorse Co.

Retained earnings (beginning)

$3800

Net loss

230

Cash dividends declared

235

Stock dividends declared

240


What is its ending Retained Earnings balance?

$3570.

$3095.

$3470.

$3335.
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Question:1

The Answer is $ 10,040 in total

Preferred Dividend = 1300 shares * $100 * 8% = $ 10,040

Question:2

The Answer is $ 3,095

Calculation:

Wildhorse Co.
Retained Earnings Statement
Beginning Balance $                 3,800
Add:Net Income /[loss] $                  (230)
Less:
Dividends (Cash Dividend) $                  (235)
Dividends (Stock Dividend) $                  (240)
Retained Earnings Closing Balance $                 3,095
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per share $100 Dividend...
The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per share $100 Dividend rate 8% Shares outstanding 10,000 Dividends in arrears none Common stock: Par value per share $10 Shares issued 115,000 Dividends paid per share $2.20 Market price per share $49 Additional paid-in capital $520,000 Unappropriated retained earnings (after closing) $250,000 Retained earnings appropriated for contingencies $280,000 Common treasury stock: Number of shares 10,000 Total cost $260,000 Net income
Smith & Co. has 20,000 shares of 1% cumulative preferred stock of $100 par and 100,000...
Smith & Co. has 20,000 shares of 1% cumulative preferred stock of $100 par and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends. Year 1 $10,000, Year 2 $45,000, Year 3 $80,000 Determine the dividends per share for preferred and common stock for each year. Year 1 Year 2 Year 3 ____________________________________________________________ ____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ ____________________________________________________________
Problem 11-03A On December 31, 2021, Wildhorse Co. had 1,310,000 shares of $6 par common stock...
Problem 11-03A On December 31, 2021, Wildhorse Co. had 1,310,000 shares of $6 par common stock issued and outstanding. At December 31, 2021, stockholders’ equity had the amounts listed here. Common Stock $7,860,000 Additional Paid-in Capital 1,780,000 Retained Earnings 1,110,000 Transactions during 2022 and other information related to stockholders’ equity accounts were as follows. 1. On January 10, issued at $109 per share 110,000 shares of $103 par value, 8% cumulative preferred stock. 2. On February 8, reacquired 13,800 shares...
The stockholders' equity section of Wildhorse Co. balance sheet at December 31 is presented here: WILDHORSE...
The stockholders' equity section of Wildhorse Co. balance sheet at December 31 is presented here: WILDHORSE CO. Balance Sheet (partial) Stockholders' equity   Paid-in capital     Preferred stock, cumulative, 11,000 shares authorized,       6,000 shares issued and outstanding $600,000     Common stock, no par, 750,000 shares authorized,       600,000 shares issued 6,000,000       Total paid-in capital 6,600,000   Retained earnings 1,450,000   Total paid-in capital and retained earnings 8,050,000   Less: Treasury stock (5,000 common shares) 41,000 Total stockholders' equity $8,009,000 From a review of the stockholders' equity section,...
The following information pertains to Parsons Co.:       Preferred stock, cumulative:             Par per share          &n
The following information pertains to Parsons Co.:       Preferred stock, cumulative:             Par per share                                                                                                      $100             Dividend rate                                                                                                         8%             Shares outstanding                                                                                          10,000             Dividends in arrears                                                                                            none       Common stock:             Par per share                                                                                                        $10             Shares issued                                                                                                120,000             Dividends paid per share                                                                                   $2.70             Market price per share                                                                                    $48.00       Additional paid-in capital                                                                                    $400,000       Unappropriated retained earnings (after closing)                                              $270,000       Retained earnings appropriated for contingencies                                            $300,000       Common treasury stock:             Number of shares                                                                                           ...
There shall be created 100,000 shares of preferred stock, par value $100 per share, of the...
There shall be created 100,000 shares of preferred stock, par value $100 per share, of the Company authorized to be issued pursuant to the Certificate of Incorporation designated as the “5.00% Cumulative Preferred Stock,” par value $100 per share (the “Preferred Stock”). The holders of shares of the outstanding Preferred Stock shall be entitled, when, as and if declared by the Board of Directors out of funds of the Company legally available therefor, to receive cumulative dividends at the rate...
Dividends Per Share Seacrest Company has 20,000 shares of cumulative preferred 1% stock, $100 par and...
Dividends Per Share Seacrest Company has 20,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends: 20Y1$40,000 20Y28,000 20Y360,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock (dividends per share)Common Stock (dividends per share) 20Y1$$ 20Y2$$ 20Y3$$
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...
Green Planet Corp. has (a) 5,000 shares of cumulative 10% preferred stock with a $2 par...
Green Planet Corp. has (a) 5,000 shares of cumulative 10% preferred stock with a $2 par value and (b) 17,000 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Compute the dividends paid each year to each of the two classes of stockholders: preferred and common.    Year 1 total cash dividends $ 800 Year 2 total cash dividends $ 1,700
1.Vision Corporation has the following information on its financial statement: Preferred Stock 6%, $100 par, cumulative,...
1.Vision Corporation has the following information on its financial statement: Preferred Stock 6%, $100 par, cumulative, 10,000 shares authorized $ 450,000 Common stock, $3 par, 500,000 shares authorized, 240,000 issued 720,000 Paid-in capital - Preferred 750,000 Paid-in capital - Common 3,000,000 Retained earnings 1,192,500 If Vision paid a total of $55,800 in dividends, how much would each common stockholder receive for each share of stock owned? (Assume there are no dividends in arrears.) Multiple Choice $0.18 per share $0.24 per...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT