Question
In: Accounting
Accounting: Celebrity Inc. has the following shares outstanding at December 31, 2019: Common shares, $1,500,000 no...
Accounting:
Celebrity Inc. has the following shares outstanding at December 31, 2019:
Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized.
Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding.
The preferred shares are noncumulative and non-participating.
Dividends declared are $47,500.
What is the total preferred share dividends?
Celebrity Inc. has the following shares outstanding at December 31, 2019:
Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized.
Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding.
The preferred shares are noncumulative and non-participating.
Dividends declared are $47,500.
What is the total common share dividends?
Celebrity Inc. has the following shares outstanding at December 31, 2019:
Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized.
Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding.
The preferred shares are cumulative and non-participating.
Dividends have not been declared for the past two years.
Dividends declared are $30,000.
What is the total preferred share dividends?
Celebrity Inc. has the following shares outstanding at December 31, 2019:
Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized.
Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding.
The preferred shares are cumulative and non-participating.
Dividends have not been declared for the past two years.
Dividends declared are $30,000.
What is the total common share dividends?
Solutions
Expert Solution
| Celebrity Inc. has the following shares outstanding at December 31, 2019: | ||
| Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized. | ||
| Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding. | ||
| The preferred shares are noncumulative and non-participating. | ||
| Dividends declared are $47,500. | ||
| What is the total preferred share dividends? | ||
| Total preferred share dividends = 2000 x $5 | $ 10,000.00 | |
| Celebrity Inc. has the following shares outstanding at December 31, 2019: | ||
| Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized. | ||
| Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding. | ||
| The preferred shares are noncumulative and non-participating. | ||
| Dividends declared are $47,500. | ||
| What is the total common share dividends? | ||
| Dividend Declared | $ 47,500.00 | |
| Preferred share dividends | $ (10,000.00) | |
| Total common share dividend | $ 37,500.00 | |
| Celebrity Inc. has the following shares outstanding at December 31, 2019: | ||
| Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized. | ||
| Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding. | ||
| The preferred shares are cumulative and non-participating. | ||
| Dividends have not been declared for the past two years. | ||
| Dividends declared are $30,000. | ||
| What is the total preferred share dividends? | ||
| Total preferred share dividends = 2000 x $5 x 3 | $ 30,000.00 | |
| Celebrity Inc. has the following shares outstanding at December 31, 2019: | ||
| Common shares, $1,500,000 no par value, 10,000 shares issued and outstanding, unlimited number authorized. | ||
| Preferred shares, $200,000, $5.00, no par value, non voting shares, 2,000 shares issued and outstanding. | ||
| The preferred shares are cumulative and non-participating. | ||
| Dividends have not been declared for the past two years. | ||
| Dividends declared are $30,000. | ||
| What is the total common share dividends? | ||
| Dividend Declared | $ 30,000.00 | |
| Preferred share dividends | $ (30,000.00) | |
| Total common share dividend | $ - | |
| All the dividend is paid to preferred shares are cumulative and non-participating |
ekkarill92 answered 2 years agoRelated Solutions
Celebrity Inc. has the following shares outstanding at December 31, 2019: Common shares, $1,500,000 no par...
Celebrity Inc. has the following shares outstanding at December
31, 2019:
Common shares, $1,500,000 no par value, 10,000 shares issued and
outstanding, unlimited number authorized.
Preferred shares, $200,000, $5.00, no par value, non voting
shares, 2,000 shares issued and outstanding.
The preferred shares are cumulative and non-participating.
Dividends have not been declared for the past two
years.
Dividends declared are $30,000.
What is the total common share dividends?
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