eBookOct. 31. Declared semiannual dividends of $1.60 per share on the preferred stock and $0.13 per share on the common stock (before the stock dividend). In addition, a 2% commonstock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36.Oct. 31 Cash DividendsCash Dividends PayableOct. 31 Stock DividendsStock Dividends Distributable0030,780 X0015,600 XPaid-In Capital in Excess of Par-Common Stock0FeedbackCheck My WorkOn the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity?Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend.Dec. 31 Cash Dividends PayableCashDec. 31 Stock Dividends DistributableCommon StockFeedbackCheck My WorkWhat are the stockholders receiving?Feedback75,600 X00 ✓30,780 X00✓

Part 2:Explanation:Step 1: Calculate the total number of shares outstanding before the stock…

Answered: eBook Oct. 31. Declared semiannual…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...

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Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the balance sheet date, MJOs stock was selling for S25 per share. Required: Assuming MJOs dividend yield is 1%, what are the dividends per common share? Assuming MJOs dividend yield is 1% and its dividend payout is 20%, what is MJOs net income?
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 150,000 common shares outstanding. Jan. 8 No Entry Required No Entry Required Feedback Apr. 30. Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1. Apr. 30 Cash Dividends Cash Dividends Payable July 1. Paid the cash dividends. July 1 Cash Dividends Payable Cash Feedback Oct. 31. Declared semiannual dividends of $0.75 on the preferred stock and $0.14 on the common stock (before the stock dividend). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common…
July 1 Oct. 31. Declared semiannual dividends of $1.40 on the preferred stock and $0.09 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance 10000 00 00 00 10 0000 00
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Dividends Andrews Company has $95,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $100 per share, and the common stock is selling for $25 per share. Required 1. Determine the amount of dividends to be paid to each class of shareholder for each of the following independent assumptions. If an amount box required no entry, leave it blank. a. Preferred stock is nonparticipating and noncumulative. Andrews Company Schedule of dividends to be paid Preferred dividend Remainder to common Total Preferred Common
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Data pertaining to Classic Corp.’s common stock are presented for the fiscalbyear ending May 31, 2012: Ordinary sharesoutstanding P 750,000 Stated value per share 15.00 Market price per share 45.00 2008 dividends paidper share 4.50 2009 dividends paidper share 7.50 Basic earnings pershare 11.25 Diluted earnings pershare 9.0 The price-earnings ratio of ordinary share of Classics Corp is:a. 3.0 times. b. 7.0 times c. 6.0 times d. 5.0 times

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