Question
In: Accounting
The outstanding capital stock of Teal Corporation consists of 2000 shares of $100 par value, 9%...
The outstanding capital stock of Teal Corporation consists of
2000 shares of $100 par value, 9% preferred, and 5400 shares of $50
par value common.
Assuming that the company has retained earnings of $89000, all of
which is to be paid out in dividends, and that preferred dividends
were not paid during the 2 years preceding the current year, state
how much each class of stock should receive under each of the
following conditions.
(a) The preferred stock is noncumulative and
nonparticipating. (Round answers to 0 decimal places,
e.g. $38,487.)
|
Preferred |
Common |
|
|---|---|---|
| $enter a dollar amount rounded to 0 decimal places | $enter a dollar amount rounded to 0 decimal places |
(b) The preferred stock is cumulative and
nonparticipating. (Round answers to 0 decimal places,
e.g. $38,487.)
|
Preferred |
Common |
|
|---|---|---|
| $enter a dollar amount rounded to 0 decimal places | $enter a dollar amount rounded to 0 decimal places |
(c) The preferred stock is cumulative and
participating. (Round the rate of participation to 4
decimal places, e.g.1.4278%. Round answers to 0 decimal places,
e.g. $38,487.)
|
Preferred |
Common |
|
|---|---|---|
| $enter a dollar amount rounded to 0 decimal places | $enter a dollar amount rounded to 0 decimal places |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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Exercise 15-21 The outstanding capital stock of Waterway
Corporation consists of 2,000 shares of $100 par value, 8%
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the company has retained earnings of $86,000, all of which is to be
paid out in dividends, and that preferred dividends were not paid
during the 2 years preceding the current year, state how much each
class of stock should receive under each of the following
conditions. (a) The preferred stock...
Teal Corporation has outstanding 3,020,000 shares with common stock of a par value of $10 each....
Teal Corporation has outstanding 3,020,000 shares with common
stock of a par value of $10 each. The balance in its Retained
Earnings account at January 1, 2017, was $24,056,000, and it then
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During 2017, the company’s net income was $4,713,000. A cash
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Teal Corporation has outstanding 3,020,000 shares with common stock of a par value of $10 each....
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stock of a par value of $10 each. The balance in its Retained
Earnings account at January 1, 2017, was $24,056,000, and it then
had Paid-in Capital in Excess of Par—Common Stock of $4,960,000.
During 2017, the company’s net income was $4,713,000. A cash
dividend of $0.60 a share was declared on May 5, 2017, and was paid
June 30, 2017, and a 6% stock dividend was declared on November 30,
2017,...
Nottebart Corporation has outstanding 10,000 shares of $100 par value, 6% preferred stock and 60,000 shares...
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of $10 par value common stock. The preferred stock was issued in January 2017, and no dividends were declared in 2017 or 2018.
In 2019, Nottebart declares a cash dividend of $300,000. How will the dividend be shared by common and preferred stockholders
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York’s outstanding stock consists of 80,000 shares of 7.5% preferred stock with a $5 par value...
York’s outstanding stock consists of 80,000 shares of 7.5%
preferred stock with a $5 par value and also 200,000 shares of
common stock with a $1 par value. During its first four years of
operation, the corporation declared and paid the following total
cash dividends:
2015 total cash dividends
$
20,000
2016 total cash dividends
28,000
2017 total cash dividends
200,000
2018 total cash dividends
350,000
rev: 11_29_2018_QC_CS-149901
Exercise 11-9 Dividends on common and cumulative preferred stock
LO C2...
York’s outstanding stock consists of 90,000 shares of 7.0% preferred stock with a $5 par value and also 160,000 shares of common stock with a $1 par value
York’s outstanding stock consists of 90,000 shares of 7.0% preferred stock with a $5 par value and also 160,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends:
2015 total cash dividends
$
19,800
2016 total cash dividends
29,500
2017 total cash dividends
285,000
2018 total cash dividends
435,000
rev: 11_29_2018_QC_CS-149901
Exercise 11-9 Dividends on common and cumulative...
Exercise 15-9 Kingbird Corporation has 11,600 shares of $100 par value, 9%, preferred stock and 48,200...
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value, 9%, preferred stock and 48,200 shares of $10 par value
common stock outstanding at December 31, 2017. Answer the questions
in each of the following independent situations. (a) If the
preferred stock is cumulative and dividends were last paid on the
preferred stock on December 31, 2014, what are the dividends in
arrears at December 31, 2017? Amount of dividends in arrears $ How
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Ramsey Corporation's capital structure consists of 50,000 shares of common stock with a par value of...
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revealed the following information: Sales revenue $1,250,000
Discontinued operations loss (Note: you must adjust for tax) 90,000
Selling expenses 128,000 Cash 60,000 Accounts receivable 90,000
Common stock 200,000 Cost of goods sold 700,000 Accumulated
depreciation-machinery 180,000 Dividend revenue 18,000 Unearned
service revenue 4,400 Interest payable 1,000 Land 370,000 Patents...
Sturdley Corporation has 20,000 shares of $100 par value, 7% cumulative preferred stock outstanding and 100,000...
Sturdley Corporation has 20,000 shares of $100 par value, 7%
cumulative preferred stock outstanding and 100,000 of its $1 par
value common stock outstanding. In their first four years of
operation they paid the following cash dividends:
2016 -0-
2017 $240,000
2018 $280,000
2019 $180,000
Determine the total cash dividends paid during the four years
with preferred stock as cumulative and then calculate it again with
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Mendez Corporation has 10,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding...
Mendez Corporation has 10,000 shares of its $100 par value, 7
percent cumulative
preferred stock outstanding and 50,000 shares of its $1 par
value common stock outstanding.
In Mendez’s first four years of operation, its board of
directors paid the following
cash dividends: 2011, none; 2012, $120,000; 2013, $140,000;
2014, $140,000.
Determine the dividends per share and total cash dividends paid
to the preferred and
common stockholders during each of the four years.
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