Marigold Corp. had the following information in its financial statements for the year ended 2020 and 2021: Common cash dividends for the year $19700 2021 Net income for the year ended 2021 127000 Market price of stock, 12/31/21 24 Common stockholders' equity, 12/31/20 2150000 Common stockholders' equity, 12/31/21 2740000 Outstanding shares, 12/31/21 147000 Preferred dividends for the year ended 29900 2021 What is the book value per share for Marigold Corp. for the year ended 2021? O $18.64 O $14.63 O $18.44 O $18.31

Marigold Corp. had the following information in its financial statements for the year ended 2020 and 2021: Common cash dividends for the year $19700 2021 Net income for the year ended 2021 127000 Market price of stock, 12/31/21 24 Common stockholders' equity, 12/31/20 2150000 Common stockholders' equity, 12/31/21 2740000 Outstanding shares, 12/31/21 147000 Preferred dividends for the year ended 29900 2021 What is the book value per share for Marigold Corp. for the year ended 2021? O $18.64 O $14.63 O $18.44 O $18.31

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 76E

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Stock Dividends Crystal Corporation has the following information regarding its common stock: S10 par. with 500.000 shares authorized, 213,000 shares issued, and 183,700 shares outstanding. On August 22, 2019, Crystal declared and paid a 15% stock dividend when the market price of the common stock was $30 per share. Required: Prepare the journal entries to record declaration and payment of this stock dividend. Prepare the journal entries to record declaration and payment assuming it was a 30% stock dividend.
Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.
Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its preferred and common stock: Preferred stock, S30 par, 12% cumulative; 300,000 shares authorized; 150,000 shares issued and outstanding Common stock, $2 par; 2,500,000 shares authorized; 1,200,000 shares issued; 1,000,000 outstanding As of December 31, 2019, Lemon was 3 years in arrears on its dividends. During 2020, Lemon declared and paid dividends. As a result, the common stockholders received dividends of $0.45 per share. Required: What was the total amount of dividends declared and paid? What journal entry was made at the date of declaration?
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