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In: Accounting

On December 31, 2017, University Security Inc. showed the following: University Security Inc. Equity Section of...

On December 31, 2017, University Security Inc. showed the following:

University Security Inc.
Equity Section of Balance Sheet
December 31, 2017
  Contributed capital:  
    Preferred shares, $4, unlimited shares authorized,
       14,000 shares issued and outstanding*		 $ 308,000
    Common shares, unlimited shares authorized, 35,000 shares issued and outstanding* 455,000
    Total contributed capital $ 763,000
  Retained earnings 952,000
  Total equity $1,715,000

*All of the shares had been issued early in 2016.

Required:
Part 1:
Calculate book value per common share and preferred share at December 31, 2017, assuming no dividends were declared for the years ended December 31, 2016 or 2017, and that the preferred shares are:

a. Cumulative. (Round the final answers to 2 decimal places.)    
1.common share -

2 preferred shares -

find book valur in context to both


b. Non-cumulative. (Round the final answers to 2 decimal places.)

1.common share -

2 preferred shares -

find book valur in context to both


Part 2:
Calculate book value per common share and preferred share at December 31, 2017, assuming total dividends of $91,000 were declared and paid in each of the years ended December 31, 2016 and 2017, and that the preferred shares are:

c. Cumulative. (Round the final answers to 2 decimal places.)    

1.common share -

2 preferred shares -

find book valur in context to both


d. Non-cumulative. (Round the final answers to 2 decimal places.)   

1.common share -

2 preferred shares -

find book valur in context to both

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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