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?
As of December 31, 2019, Blue Spruce Ltd., a public company, has 52,000 common shares outstanding....
As of December 31, 2019, Blue Spruce Ltd., a public company, has
52,000 common shares outstanding. During 2020, Blue Spruce had the
following transactions.
1.
Issued 6,000 common shares at $32 per share, less $5,000 in
costs related to the issuance of the shares.
2.
Issued 4,280 common shares for land appraised at $176,360. The
closing price for the shares traded on the TSX was $37 per share on
the date of issuance.
3.
Purchased and retired 500 of the...
Crane Inc., a publicly traded company, had 291,000 common shares outstanding on December 31, 2019. During...
Crane Inc., a publicly traded company, had 291,000 common shares
outstanding on December 31, 2019. During 2020, the company issued
6,600 shares on May 1 and retired 15,000 shares on October 31. For
2020, the company reported net income of $294,530 after a loss from
discontinued operations of $44,000 (net of tax). Calculate earnings
per share for 2020 as it should be reported to shareholders. (Round
answer to 2 decimal places, e.g. 15.25.) Earnings per share Income
per share before...
CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited shares authorized;...
CarFind Inc. showed the following equity information at December
31, 2019.
Common shares,
unlimited shares authorized; 5,500,000 shares issued and
outstanding
$
1,010,000
Retained
earnings
1,542,500
On April 1, 2020, 350,000 common shares were issued at $0.70 per
share. On June 1, the board of directors declared a 15% share
dividend to shareholders of record on June 15; the distribution
date was July 1. The market prices of the shares on June 1, June
15, and July 1 were $2.98,...
Grouper Inc. acquired 10% of the outstanding common shares of Gregson Inc. on December 31, 2016....
Grouper Inc. acquired 10% of the outstanding common shares of
Gregson Inc. on December 31, 2016. The purchase price was $904,000
for 45,200 shares, and is equal to 10% of Gregson’s carrying
amount. Gregson declared and paid a $0.80 per share cash dividend
on June 15 and again on December 15, 2017. Gregson reported net
income of $516,000 for 2017. The fair value of Gregson’s shares was
$24 per share at December 31, 2017. Grouper is a public company and...
Clark Fork, Inc. had 100,000 shares of common stock outstanding on December 31, 2014. The following...
Clark Fork, Inc. had 100,000 shares of common stock outstanding
on December 31, 2014. The following changes occurred during 2015
and 2016:
April 1, 2015
issued an additional 10,000 shares
July 1, 2015
2:1 stock split
October 1, 2015
5,000 treasury shares purchased
December 1, 2015
reissued the 5,000 treasury shares
March 1, 2016
50% stock dividend
July 1, 2016
issued an additional 30,000 shares
The 2016 income statement will include earnings per share
computations for 2015 and 2016.
For...
On December 31, 2019, Sandhill Corporation had 140,000 common shares outstanding. On April 30, 2020, the...
On December 31, 2019, Sandhill Corporation had 140,000
common shares outstanding. On April 30, 2020, the company issued an
additional 50,000 common shares for cash. On July 31, 2020, the
company repurchased and cancelled 20,000 common shares.
During the year ended December 31, 2020, Sandhill
earned income before taxes of $40,000,000. Not included in this
income was a loss from discontinued operations of $5,000,000 before
tax. The company was subject to a 25% income tax rate.
Calculate earnings per share(From...
Arthur, Inc., had 610,000 shares of common stock issued and outstanding on December 31, 2015. On...
Arthur, Inc., had 610,000 shares of common stock issued and
outstanding on December 31, 2015. On July 1, 2016, an additional
40,000 shares of common stock were issued for cash. Arthur, Inc.
also had unexercised stock options to purchase 32,000 shares of
common stock at $15 per share outstanding at the beginning and end
of 2016. The average market price of Arthur, Inc. common stock was
$20 during 2016. How many shares that should be included in
computing diluted earnings...
On December 31, 2019, Akron, Inc., purchased 5 percent of Zip Company's common shares on the...
On December 31, 2019, Akron, Inc., purchased 5 percent of Zip
Company's common shares on the open market in exchange for $17,100.
On December 31, 2020, Akron, Inc., acquires an additional 25
percent of Zip Company's outstanding common stock for $95,000.
During the next two years, the following information is
available for Zip Company:
Income
Dividends Declared
Common Stock
Fair Value (12/31)
2019
$313,000
2020
$68,000
$6,600
380,000
2021
85,000
14,400
470,000
At December 31, 2020, Zip reports a net...
Cullumber Corporation had 102,000 common shares outstanding on December 31, 2019. During 2020, the company issued...
Cullumber Corporation had 102,000 common shares outstanding on
December 31, 2019. During 2020, the company issued 12,000 shares on
March 1, retired 6,800 shares on July 1, issued a 20% stock
dividend on October 1, and issued 18,300 shares on December 1. For
2020, the company reported net income of $408,000 after a loss from
discontinued operations of $64,000 (net of tax). The company issued
a 2-for-1 stock split on February 1, 2021, and the company’s
financial statements for the...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
- Do we have any online or offline tool to convert c and cpp programs into MIPS...
- -what is the pH of HCl 0,1M and NaCl 0,1M mixed together solution? -What is the...
- function X=extractDWT(x_train,startS,endS,wStep,wRange) % x_train = input signal % startS = from second % endS = end...
- Do you agree that Social Loafing is similar to Theory X. Give an example to support...
ADVERTISEMENT