Question

the shareholders equity of MLS Enterprises includes $160 million of no par common stock and $320...


the shareholders equity of MLS Enterprises includes $160 million of no par common stock and $320 million of 5% cumulative preferred stock. The board of directors of MLS declared cash dividends of $42 million in 2018 after paying $11 million cash dividends in both 2017 and 2016

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of...
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $2.2 million, $6.0 million, and $46.8 million in each of its first three years of operation: 2016, 2017, and 2018, respectively. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is...
The shareholders' equity of Nick Co. includes the items shown below. The board of directors of...
The shareholders' equity of Nick Co. includes the items shown below. The board of directors of Nick declared cash dividends of $4 million, $8 million, and $50 million in each of its first 3 years of operation: 2016, 2017, and 2018, respectively. Preferred stock, 6%, at a total value of $100,000,000 Required: Determine the amount of dividends given to preferred and common shareholders during each of the three years. The preferred stock is cumulative and nonparticipating. 6%*100,000,000=6m-2m=4m Dividends paid Preferred...
The shareholders’ equity of ILP Industries includes the items shown below. The board of directors of...
The shareholders’ equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $10 million, $15 million, and $120 million in its first three years of operation—2018, 2019, and 2020, respectively. (In Millions) Common stock $100 Paid-in capital—excess of par, common 800 Preferred stock, 8% 200 Paid-in capital—excess of par, preferred 520 Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming...
The shareholders’ equity of ILP Industries includes the items shown below. The board of directors of...
The shareholders’ equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $6 million, $16 million, and $190 million in its first three years of operation—2021, 2022, and 2023, respectively. ($ in millions) Common stock $ 140 Paid-in capital—excess of par, common 960 Preferred stock, 5% 280 Paid-in capital—excess of par, preferred 680 Required: Determine the amount of dividends to be paid to preferred and common shareholders in each of the...
The shareholders’ equity of Kramer Industries includes the data shown below. During 2019, cash dividends of...
The shareholders’ equity of Kramer Industries includes the data shown below. During 2019, cash dividends of $220 million were declared. Dividends were not declared in 2017 or 2018. ($ in millions) Common stock $ 260 Paid-in capital—excess of par, common 1,040 Preferred stock, 10%, nonparticipating 130 Paid-in capital—excess of par, preferred 390 Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock....
The shareholders equity of Kramer Industries includes the data shown below. During 2022, cash dividends of...
The shareholders equity of Kramer Industries includes the data shown below. During 2022, cash dividends of $150 million were declared. Dividends were not declared in 2020 or 2021. Common Stock $200 Paid-in Capital-excess of par, common 800 Preferred stock, 10%, nonparticipating 100 Paid-in capital-excess of par, preferred 270 Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock. Show JE's at declaration...
The balance sheet of Julus Inc. includes $350,000 of $1 par common stock and $550,000 par...
The balance sheet of Julus Inc. includes $350,000 of $1 par common stock and $550,000 par of 7% cumulative preferred stock. Julus declared cash dividends of $65,000 in 2021 after paying $35,000 cash dividends in 2020 and $55,000 in 2019. How much in dividends will common shareholders get in 2021? Multiple Choice $26,500. $42,000. $23,000. $19,500.
A Company has the following shares of stock outstanding: Common stock, $1 par value 100,000 shares...
A Company has the following shares of stock outstanding: Common stock, $1 par value 100,000 shares 10% Preferred stock, cumulative, $2 par value 200,000 shares The company had been very profitable until 1992, when its business and profits decreased. In 2015, for the first time in its history, the company was unable to pay all of its required dividends. The board of directors declared the following amounts of dividends during 2015, 2016, and 2017: 2015 $0 2016 75,000 2017 50,000...
Record the journal entries for the following facts: 500 shares of common stock outstanding. 600 shares...
Record the journal entries for the following facts: 500 shares of common stock outstanding. 600 shares of $100 six percent cumulative preferred stock have been outstanding since 2016. 800 shares of $100 seven percent non-cumulative preferred stock have been outstanding since 2010. The cumulative preferred stock is subordinate to the non-cumulative preferred stock. The common shareholders received a dividend in 2017. Dividends in 2018 were $5,000. Dividends declared by the board of directors were $16,000 in 2019. The dividends were...
The shareholders’ equity of Core Technologies Company on June 30, 2017, included the following: Common stock,...
The shareholders’ equity of Core Technologies Company on June 30, 2017, included the following: Common stock, $1 par; authorized, 5 million shares; issued and outstanding, 2 million shares $ 2,000,000 Paid-in capital—excess of par 8,000,000 Retained earnings 14,000,000 On April 1, 2018, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies’ common stock was $32 on April 1, 2018, and $42 on...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT