Question
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
Ferry Corporation had 300,000 shares of common stock outstanding at December 31, 2020. In addition, it...
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 market price of Ferry's common stock for
2020 was $50. Net income was $1,000,000. SHOW ALL
COMPUTATIONS>
Compute EPS.
Compute DEPS.
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
market price of Ferry's common stock for 2020 was $50. Net income
was $1,000,000. SHOW ALL COMPUTATIONS>
Compute EPS.
Compute DEPS.
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018,...
Mustang Corporation had 100,000 shares of $2 par value common
stock outstanding. On December 31, 2018, the company's board of
directors declares a 20 percent stock dividend. This stock dividend
will be distributed on January 20, 2019 to the stockholders of
record on January 15, 2019. The market price of the company's stock
is $10 per share on December 31, 2018.
Complete the necessary journal entry to record the declaration
of the stock dividend by selecting the account names from...
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, 2020, Jackson Company had 100,000 shares of common stock outstanding and 27,000 shares...
On December 31, 2020, Jackson Company had 100,000 shares of
common stock outstanding and 27,000 shares of 7%, $50 par,
cumulative preferred stock outstanding. On February 28, 2021,
Jackson purchased 14,000 shares of common stock on the open market
as treasury stock for $25 per share. Jackson sold 5,000 treasury
shares on September 30, 2021, for $27 per share. Net income for
2021 was $170,905. Also outstanding during the year were fully
vested incentive stock options giving key executives the...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares...
On December 31, 2017, Jackson Company had 100,000 shares of
common stock outstanding and 30,000 shares of 7%, $50 par,
cumulative preferred stock outstanding. On February 28, 2018,
Jackson purchased 24,000 shares of common stock on the open market
as treasury stock paying $45 per share. Jackson sold 6,000 of the
treasury shares on September 30, 2018, for $47 per share. Net
income for 2018 was $180,905. Also outstanding at December 31,
2017, were fully vested incentive stock options giving...
On December 31, 2020, Jackson Company had 100,000 shares of common stock outstanding and 40,000 shares...
On December 31, 2020, Jackson Company had 100,000 shares of
common stock outstanding and 40,000 shares of 6%, $50 par,
cumulative preferred stock outstanding. On February 28, 2021,
Jackson purchased 34,000 shares of common stock on the open market
as treasury stock for $45 per share. Jackson sold 7,000 treasury
shares on September 30, 2021, for $47 per share. Net income for
2021 was $190,905. Also outstanding during the year were fully
vested incentive stock options giving key executives the...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 33,000 shares...
On December 31, 2017, Jackson Company had 100,000 shares of
common stock outstanding and 33,000 shares of 6%, $50 par,
cumulative preferred stock outstanding. On February 28, 2018,
Jackson purchased 27,000 shares of common stock on the open market
as treasury stock for $38 per share. Jackson sold 6,300 treasury
shares on September 30, 2018, for $40 per share. Net income for
2018 was $183,905. Also outstanding during the year were fully
vested incentive stock options giving key personnel the...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares...
On December 31, 2017, Jackson Company had 100,000 shares of
common stock outstanding and 30,000 shares of 7%, $50 par,
cumulative preferred stock outstanding. On February 28, 2018,
Jackson purchased 24,000 shares of common stock on the open market
as treasury stock paying $45 per share. Jackson sold 6,000 of the
treasury shares on September 30, 2018, for $47 per share. Net
income for 2018 was $180,905. Also outstanding at December 31,
2017, were fully vested incentive stock options giving...
On December 31, 2017, Brisbane Company had 100,000 shares of common stock outstanding and 23,000 shares...
On December 31, 2017, Brisbane Company had 100,000 shares of
common stock outstanding and 23,000 shares of 7%, $50 par,
cumulative preferred stock outstanding. On February 28, 2018,
Brisbane purchased 17,000 shares of common stock on the open market
as treasury stock paying $33 per share. Brisbane sold 5,300
treasury shares on September 30, 2018, for $38 per share. Net
income for 2018 was $173,905. Also outstanding during the year were
fully vested incentive stock options giving key personnel the...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Which of the following statements is (are) correct? Select one: A. A strong demand increase together...
- A Ferris wheel with a diameter of 35.0 m in , starts from rest and achieves...
- Question 1: Explain and comment the following statement: “Service value creation can go beyond the interaction...
- Consider a project with a 5-year life. The initial cost to set up the project is...
- A proton moving to the right at 6.2 × 10^5 ms^-1 enters a region where there...
- Heating a broth culture of microorganisms to 140∘∘C for three seconds would ___ the culture. View...
- How can I differentiate between QH and QL in the refrigerator case in the second law...
ADVERTISEMENT