Question
In: Accounting
The stockholders’ equity accounts of Bramble Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Bramble Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized) $270,000 Common Stock ($4 stated value, 270,000 shares authorized) 900,000 Paid-in Capital in Excess of Par Value—Preferred Stock 13,500 Paid-in Capital in Excess of Stated Value—Common Stock 432,000 Retained Earnings 619,200 Treasury Stock (4,500 common shares) 36,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 4,500 shares of common stock for $27,000. Mar. 20 Purchased 900 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Dec. 31 Determined that net income for the year was $254,000. Paid the dividend declared on December 1.
Calculate the payout ratio, earnings per share, and return on common stockholders’ equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g 17.50%.)
PAYOUT RATIO :
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The stockholders’ equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Bramble Corp. on January 1,
2017, were as follows.
Preferred Stock (7%, $100 par noncumulative, 5,000 shares
authorized)
$300,000
Common Stock ($4 stated value, 300,000 shares authorized)
1,000,000
Paid-in Capital in Excess of Par Value—Preferred Stock
15,000
Paid-in Capital in Excess of Stated Value—Common Stock
480,000
Retained Earnings
688,500
Treasury Stock (5,000 common shares)
40,000
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,000 shares...
The stockholders’ equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Bramble Corp. on January 1,
2017, were as follows.
Preferred Stock (7%, $100 par noncumulative, 14,000 shares
authorized)
$840,000
Common Stock ($4 stated value, 840,000 shares authorized)
2,800,000
Paid-in Capital in Excess of Par Value—Preferred Stock
42,000
Paid-in Capital in Excess of Stated Value—Common Stock
1,344,000
Retained Earnings
1,926,400
Treasury Stock (14,000 common shares)
112,000
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 14,000 shares...
The stockholders’ equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Bramble Corp. on January 1,
2017, were as follows.
Preferred Stock (7%, $100 par noncumulative, 4,200 shares
authorized)
$252,000
Common Stock ($5 stated value, 300,000 shares authorized)
1,250,000
Paid-in Capital in Excess of Par Value—Preferred Stock
12,600
Paid-in Capital in Excess of Stated Value—Common Stock
480,000
Retained Earnings
688,500
Treasury Stock (4,200 common shares)
33,600
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 4,730 shares...
The stockholders’ equity accounts of Sheffield Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Sheffield Corp. on January
1, 2022, were as follows.
Preferred Stock (8%, $100 par noncumulative, 5,000 shares
authorized)
$450,000
Common Stock ($10 stated value, 800,000 shares authorized)
1,550,000
Paid-in Capital in Excess of Par Value—Preferred Stock
67,000
Paid-in Capital in Excess of Stated Value —Common Stock
800,000
Retained Earnings
810,000
Treasury Stock (8,400 common shares)
67,200
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Mar
1
Issued 6,000...
The stockholders’ equity accounts of Riverbed Corp on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Riverbed Corp on January 1,
2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 15,000 shares
authorized)
$900,000
Common Stock ($4 stated value, 900,000 shares authorized)
3,000,000
Paid-in Capital in Excess of Par Value—Preferred Stock
45,000
Paid-in Capital in Excess of Stated Value—Common Stock
1,440,000
Retained Earnings
2,064,000
Treasury Stock (15,000 common shares)
120,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 15,000 shares...
The stockholders’ equity accounts of Flounder Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Flounder Corp. on January
1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 7,500 shares
authorized)
$450,000
Common Stock ($4 stated value, 450,000 shares authorized)
1,500,000
Paid-in Capital in Excess of Par Value—Preferred Stock
22,500
Paid-in Capital in Excess of Stated Value—Common Stock
720,000
Retained Earnings
1,032,000
Treasury Stock (7,500 common shares)
60,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 7,500 shares...
The stockholders’ equity accounts of Riverbed Corp on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Riverbed Corp on January 1,
2022, were as follows. Preferred Stock (7%, $100 par noncumulative,
15,000 shares authorized) $900,000 Common Stock ($4 stated value,
900,000 shares authorized) 3,000,000 Paid-in Capital in Excess of
Par Value—Preferred Stock 45,000 Paid-in Capital in Excess of
Stated Value—Common Stock 1,440,000 Retained Earnings 2,064,000
Treasury Stock (15,000 common shares) 120,000 During 2022, the
corporation had the following transactions and events pertaining to
its stockholders’ equity. Feb. 1 Issued 15,000 shares...
The stockholders’ equity accounts of Martinez Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Martinez Corp. on January
1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 10,500 shares
authorized)
$630,000
Common Stock ($4 stated value, 630,000 shares authorized)
2,100,000
Paid-in Capital in Excess of Par Value—Preferred Stock
31,500
Paid-in Capital in Excess of Stated Value—Common Stock
1,008,000
Retained Earnings
1,444,800
Treasury Stock (10,500 common shares)
84,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 10,500 shares...
The stockholders’ equity accounts of Bridgeport Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Bridgeport Corp. on January
1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 5,500 shares
authorized) $330,000
Common Stock ($4 stated value, 330,000 shares authorized)
1,100,000
Paid-in Capital in Excess of Par Value—Preferred Stock
16,500
Paid-in Capital in Excess of Stated Value—Common Stock
528,000
Retained Earnings 756,800
Treasury Stock (5,500 common shares) 44,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb. 1 Issued 5,500 shares...
The stockholders’ equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred...
The stockholders’ equity accounts of Blue Spruce Corp. on
January 1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 3,500 shares
authorized)
$210,000
Common Stock ($4 stated value, 210,000 shares authorized)
700,000
Paid-in Capital in Excess of Par Value—Preferred Stock
10,500
Paid-in Capital in Excess of Stated Value—Common Stock
336,000
Retained Earnings
481,600
Treasury Stock (3,500 common shares)
28,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 3,500...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Please explain your view of the most difficult aspect of Customs Compliance?
- You are required to write an interactive program that prompts the user for seven (7) real...
- Describe in detail the five-forces model of industry competition. What causes each of the forces to...
- Java Programming. I'm writing this in an IDE called Eclipse. If you could also use comments...
- Scenario: You are a departmental manager in a large community hospital in an urban area. Your...
- Need to answer the following 3 questions from "The Sixties, AMerican Yawp" (just google, you will...
- Write a c++ program to load two column of numbers, do arithmetic operations to the data...
ADVERTISEMENT