eBook Show Me How Dividends Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 1% stop distributed as dividends: first year, $9,600; second year, $29,200; third year, $46,560; fourth year, $87,600. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no divider 4th Year 1st Year 2nd Year 3rd Year Preferred stock (dividend per share) 0.70 X 3.00 X Common stock (dividend per share) $ 0 ✓ 0.88 X Foodback Check My Work Is the preferred stock cumulative or non-cumulative stock? Determine the amount of current dividends that preferred stock should receiv

eBook Show Me How Dividends Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 1% stop distributed as dividends: first year, $9,600; second year, $29,200; third year, $46,560; fourth year, $87,600. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no divider 4th Year 1st Year 2nd Year 3rd Year Preferred stock (dividend per share) 0.70 X 3.00 X Common stock (dividend per share) $ 0 ✓ 0.88 X Foodback Check My Work Is the preferred stock cumulative or non-cumulative stock? Determine the amount of current dividends that preferred stock should receiv

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.24E

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Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
Provide solutions and explanation. Thank you. On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equitysecurities to subscribe to new shares at ₱60 per share for every 4 rights held. Prior toissuance of stock rights, the shares were selling at ₱80 per share. How much is the initialcarrying amount of the stock rights?a. 20,000b. 40,000c. 50,000d. cannot be determined
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 10,000 shares of cumulative preferred 1% stock, $130 par, and 33,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $8,700; second year, $27,300; third year, $33,710; fourth year, $56,230. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $ $ $ $ Common stock (dividend per share) $ $ $ $
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $110 par, and 67,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $29,400; second year, $68,600; third year, $96,440; fourth year, $141,150. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank.
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 18,000 shares of cumulative preferred 3% stock, $160 par, and 60,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $57,960; second year, $124,840; third year, $149,760; fourth year, $166,200. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 10,000 shares of cumulative preferred 4% stock, $150 par, and 33,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $40,200; second year, $89,800; third year, $105,450; fourth year, $119,730. Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $ $ $ $ Common stock (dividend per share) $ $ $ $
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 16,000 shares of cumulative preferred 2% stock, $160 par, and 53,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $34,240; second year, $78,160; third year, $98,180; fourth year, $124,870. Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 11,000 shares of cumulative preferred 4% stock, $120 par, and 37,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $35,420; second year, $80,180; third year, $96,860; fourth year, $116,440. Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Common stock (dividend per share)
ASAP!! Radio Shack stores, included the following stockholders' equity on its year-end balance sheet at December 31, 19X8, with all dollar amounts, except par value per share, in millions: Stockholders' Equity ($ Millions) Preferred stock, 6%, cumulative $ 200 Common stock-par value $1 per share; 250,000,000 shares authorized, 139,000,000 shares issued 139 Paid-in capital in excess of par-common 150 Retained earnings 1,693 $ xxxx Required Assume that preferred dividends are in arrears for 19X7 and 19X8. Record the declaration of a $50 million cash dividend on December 30, 19X9. Use separate Dividends Payable accounts for Preferred and Common. An explanation is not required.