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 $__________

Expert Solution

ekkarill92 answered 2 years ago

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...

1.Colson Inc. declared a $320,000 cash dividend. It currently has 12,000 shares of 7%, $100 par...

1.Colson Inc. declared a $320,000 cash dividend. It currently has 12,000 shares of 7%, $100 par value cumulative preferred stock outstanding. It is two years in arrears on its preferred stock. How much cash will Colson distribute to the common stockholders? Ans: so I got 12000*100*.07=84000 320000-(84000*2)=152000 It is mentioned two years in arrears on its preferred stock. Do i need to do anything else or the solution is correct? 2. Presented below is the stockholders' equity section of Oaks...

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....

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

Throughout the year, Johnson Inc. had the following shares outstanding. There were no shares issued or...

Throughout the year, Johnson Inc. had the following shares outstanding. There were no shares issued or repurchased during the year. Preferred shares, $3.00, unlimited number authorized,60,000 issued and outstanding $12,000,000 Common shares, unlimited number authorized, 420,000 issued and outstanding . 24,000,000 Total contributed capital $36,000,000 Net income for the year was $ 1,590,000. Loss from discontinued operations (net of tax)of $-159,000was included in net income for the year. Required: Prepare the basic EPS presentation for the company assuming: 1.The preferred...

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

West Company declared a $0.50 per share cash dividend. The company has 190,000 shares issued, and...

West Company declared a $0.50 per share cash dividend. The company has 190,000 shares issued, and 10,000 shares in treasury stock. The journal entry to record the payment of the dividend is: Multiple Choice Debit Common Dividends Payable $90,000; credit Cash $90,000. Debit Retained Earnings $90,000; credit Common Dividends Payable $90,000. Debit Retained Earnings $5,000; credit Common Dividends Payable $5,000. Debit Retained Earnings $95,000; credit Common Dividends Payable $95,000. Debit Common Dividends Payable $95,000; credit Cash $95,000.

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has...

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 45,000 shares authorized, 24,000 shares issued, and 18,000 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Retained Earnings $9,000; credit Common Dividends Payable $9,000. Debit Retained Earnings $22,500; credit Common Dividends Payable $22,500. Debit Common Dividends Payable $9,000; credit Cash $9,000. Debit Common Dividends Payable $12,000; credit Cash $12,000. Debit Retained Earnings $12,000; credit Common...

Fetzer Company declared a $0.50 per share cash dividend. The company has 460,000 shares authorized, 437,000...

Fetzer Company declared a $0.50 per share cash dividend. The company has 460,000 shares authorized, 437,000 shares issued, and 18,400 shares in treasury stock. The journal entry to record the payment of the dividend is: Multiple Choice Debit Common Dividends Payable $209,300; credit Cash $209,300. Debit Common Dividends Payable $218,500; credit Cash $218,500. Debit Retained Earnings $218,500; credit Common Dividends Payable $218,500. Debit Retained Earnings $209,300; credit Common Dividends Payable $209,300. Debit Retained Earnings $230,000; credit Common Dividends Payable $230,000.

Q1) Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 40,000 shares of...

Q1) Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 40,000 shares of cumulative preferred 2% stock, $75 par, and 100,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $90,000; third year, $115,000; fourth year, $140,000. Compute the dividends per share on each class of stock for each of the four years. Q2) Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’...

Question