Bordey Corporation's Board of Directors declared a dividend payment of $50,000. Bordey has outstanding 16,000 shares...

Bordey Corporation's Board of Directors declared a dividend payment of $50,000. Bordey has outstanding 16,000 shares of $1 par value common stock and 13,000 shares of 6% $50 par value preferred stock.

What is the per share dividend amount that will be payed to the common stockholders?

Group of answer choices

$3.85

$3.69

$3.00

$0.69

$0.23

Expert Solution

· Correct Answer = Option #4: $ 0.69

A	Dividend declared	$50,000
B = 13000 shares x $ 50 x 6%	Preferred shares dividend	$39,000
C = A - B	Dividend for common stock holder	$11,000
D	No. of common shares outstanding	16000
E = C/D	Dividend per share for common stock	$0.69 [Answer]

ekkarill92 answered 2 years ago

The board of directors of Western Ltd declared a cash dividend of $1.50 per share on...

The board of directors of Western Ltd declared a cash dividend of $1.50 per share on 42 000 shares of ordinary shares on 15 July, 2014. The dividend is to be paid on 15 August, 2014, to shareholders of record on 31 July, 2014. The effects of the journal entry to record the payment of the dividend on 15 August, 2014, are to: increase shareholders’ equity and increase liabilities. increase shareholders’ equity and decrease assets. decrease liabilities and decrease assets....

The board of directors of Splish Brothers Inc. declared a cash dividend of $2 per share...

The board of directors of Splish Brothers Inc. declared a cash dividend of $2 per share on 46000 shares of common stock on July 15, 2017. The dividend is to be paid on August 15, 2017, to stockholders of record on July 31, 2017. The effects of the journal entry to record the declaration of the dividend on July 15, 2017, are to

1.) On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend...

1.) On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 120 million, $5 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $23 on June 13. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. 2.) On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 100 million, $1.00 par, common shares,...

identify the 3 things necessary for a corporation's board of directors to declare a cash dividend.

XYZ Corporation declared a $.10 cash dividend on the 10,000 shares outstanding.

ITS ALL SAME QUESTIONXYZ Corporation declared a $.10 cash dividend on the 10,000 shares outstanding.Prepare the necessary Journal EntriesDate of DeclarationDate of RecordDate of PaymentOn June 15, the company’s board of directors declared a 10% stock dividend to be distributed on July 30th to the stockholder’s on record for July 3. The company had 200,000 shares of $1 par value stock outstanding with a market value of $20. Prepare the required Journal Entries.ABC had a 2:1 stock split. Outstanding shares...

What are the journal entries for the following? 13) The Board of Directors declared dividends for...

What are the journal entries for the following? 13) The Board of Directors declared dividends for the common shareholders of $50,000 plus the amount due for the preferred shareholders. No dividends have been paid for the year 2018. 14) The income tax rate is 20%. Unadjusted Trial Balance ACCOUNT DR CR Cash 244000 Cash Equivalents 65000 Accounts Receivable 195000 Allowance for Doubtful Accounts 2500 Short-Term Investments 240000 Merchandise Inventory 285000 Supplies Inventory 25000 Prepaid Rent 90000 Prepaid Insurance 0...

Regan, Inc., declared a cash dividend of $40,000 in 2017 when the following shares were outstanding:...

Regan, Inc., declared a cash dividend of $40,000 in 2017 when the following shares were outstanding: Common shares, 20,000 shares $400,000 Preferred shares $0.60, 2,500 shares $25,000 No dividends were declared or paid during the prior year. Compute the amount of cash that would be paid to each shareholder group under each of the following separate case: CASE A The preferred shares are noncumulative Preferred $__________ Common $__________ CASE B The preferred shares are cumulative Preferred $__________ Common...

Alexander, Limited, declared and distributed a 10 percent share dividend on its 700,000 shares of outstanding...

Alexander, Limited, declared and distributed a 10 percent share dividend on its 700,000 shares of outstanding $5 par value ordinary share when the share was selling for $12 per share. The outstanding shares had originally been sold at $8 per share. The balance in retained earnings before the declaration of the share dividend, but after the addition of the current year's net income, was $995,000. Prepare the shareholders' section of Alexander's statement of financial position to reflect these facts....

Dividends can be declared in 2 forms. 1st – the board of directors can declare a...

Dividends can be declared in 2 forms. 1st – the board of directors can declare a total dollar value of dividends. This amount becomes the debit to the retained earnings account or 2nd -- the board of directors can declare a dividend rate (per share amount). When a dividend is declared, a journal entry is made to reduce Retained Earnings (debit) and increase Dividends Payable (credit) for the dollar value of the dividend declared. If the company declares the total...

Pealand Company has 50,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding....

Pealand Company has 50,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $1.00 par value. The preffered stock has a $100 par value, a 5% dividend rate, and is noncumulative. On October 31, 2015, the company declares dividends of $0.25 per share for common. Provide the journal entry for the declaration of dividends.

Question