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In: Accounting
ROK Corporation had the following shares of stock outstanding on December 31, 2010: Common Stock, $25...
ROK Corporation had the following shares of stock outstanding on
December 31, 2010:
Common Stock, $25 par value, 200,000 shares outstanding
Preferred stock, 7%, $100 par value, cumulative, 20,000 shares
outstanding
Dividends were in arrears for 2008 and 2009. On December 31, 2010,
total cash dividends of $500,000 were declared.
1. What is the total amount of dividends payable to preferred
stockholders in 2010?
2. What is the total amount of dividends payable to common stockholders in 2010?
3. ROK Corporation issued $400,000 in Bonds Payable in exchange for a Building worth $400,000. What is the proper presentation on the Statement of Cash Flows for this transaction?
a. A cash outflow from investing activities of $400,000
b. A cash inflow from financing activities of $400,000
c. It should not be reported at all on the Statement of Cash Flows because it does not affect cash.
d. It should appear as a Non Cash and Investing Transaction at the end of the Statement of Cash Flows
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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Ferry Corporation had 300,000 shares of common stock outstanding at December 31, 2020. In addition,...
Ferry Corporation had 300,000 shares of common stock outstanding at
December 31, 2020. In addition, it had 90,000 stock options
outstanding, which had been granted to certain executives on June
30, 2020, and which gave them the right to purchase shares of
Ferry's stock at an option price of $35 per share. The average
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was $1,000,000. SHOW ALL COMPUTATIONS>
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