Nowell Inc. had the following stock issued and outstanding at January 1, 2018: 150,000 shares of no-par common stock. 30,000 shares of $50 par, 4 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2017.) On March 8, 2018, Nowell declared a $175,000 cash dividend to be paid March 31 to shareholders of record on March 20. Required What amount of dividends will be paid to the preferred shareholders versus the common shareholders?
Q: On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000…
A: Cash dividend = Number of shares outstanding × Dividend per share = (106000-5000+10000) ×$1 = 111000…
Q: On December 31, 2020, Swifty, Inc. has 3700 shares of 5% $100 par value cumulative preferred stock…
A: Solution: To record accounting entry in relation with declaration of cash dividends, Cash dividends…
Q: Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued…
A: The dividend on preference shares is paid before any dividend is paid to common stockholders, and…
Q: On January 1, 2020, FAB Co. had 100,000 ordinary shares outstanding. During 2020, the following…
A: On 01.01.2020, FAB Co. had outstanding shares = 100000 During 2020, On March 1, Company had split 2…
Q: The post-closing trial balance of Carla Vista Corporation at December 31, 2020, contains the…
A: Stockholder equity: Retained earnings plus share capital make up the account on a company's balance…
Q: During 2018, Longhorn Corp. had net income of $300,000 and paid dividends to its preferred…
A: The question is based on the concept of Shares and debentures.
Q: On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts.…
A: FASCOM INC Balance Sheet ( Partial ) Particulars Amount($) Shareholders' Equity…
Q: On January 1, 2018 Juniper Corporation issued 60,000 shares of its total 200,000 authorized shares…
A: Company means a form of business where the share holder invest money in business in form of shares…
Q: Wok N Roll, Inc. began on January 1, 2018 by issuing 100,000 shares of $1 par value common stock and…
A:
Q: WOW Corporation has the following shares issued and outstanding in December 2020: Common stock, $2…
A: Cumulative preference shares are those shares on which holders of that shares enjoys a right of…
Q: Community Company went into business on January 1, 2017 when it issued 100 shares of stock for a…
A: The statement of stockholder's equity is prepared to adjust the retained earnings and find ending…
Q: Wissam Company was established on January 1, 2017. The Company issued 10,000 shares of common stock…
A: This question is asking preference share dividend, Common stock dividend, and the journal entry at…
Q: On January 1, 2021, Windsor Corp. had 488,000 shares of common stock outstanding. During 2021, it…
A: Since the student has posted multiple requirements, we shall answer the first three alone. Thank…
Q: Weisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares and 50,000 ordinary…
A: A cumulative preferred stock implies that a preferred stockholder is entitled to receive dividends…
Q: Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued…
A: (1) Allocation of dividends to each class of stock, assuming that the preferred stock is 9% and not…
Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: The shareholders' equity section of Charles Corporation at December 31, 2018 included the following:…
A: Preferred dividends are the dividends that are accrued paid on a company's…
Q: On December 31, 2021, Cullumber Company had 1,290,000 shares of $6 par common stock issued and…
A: As on 31.12.2021 Common Stock 1290000 share of $6 per Share $ 77,40,000 1290000…
Q: At December 31, 2017, the Shalom Company reported the following extract from the company’s balance…
A: Shalom Company Shareholders Equity Section Shareholders Equity Preferred stock (25000 x $40…
Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,600,000 authorized shares…
A: Treasury shares has debit account balance. It would be deducted to determine the stockholders'…
Q: The records of Hoffman Company reflected the following balances in the stockholders’ equity accounts…
A: In case of cumulative preferred stock the arrears of dividend should also be paid
Q: On December 31, 2020, the Frisbee Company had 262,000 shares of common stock issued and outstanding.…
A: Earnings per share indicate the profits per share of common stockholders. It can be calculated by…
Q: Nams auto parts reports the following components of stockholders' equity at December 31, 2018.…
A: Journal entries are recorded in chronological order where every transactions will be recorded in the…
Q: At January 1, 2020, Ayayai Company’s outstanding shares included the following. 276,000 shares of…
A: Earnings Per Share: Earnings per share are also known as net income per share. It measures the…
Q: On January 1, 2019, Metco Inc. reported 296,000 shares of $6 par value common stock as being issued…
A: Treasury stock: The shares which were reacquired or bought back by the company, but not formally…
Q: Milton Company’s charter authorizes 1,000,000 shares of common stock and 400,000 shares of preferred…
A: Stockholders’ equity: The claims of owners on a company’s resources, after the liabilities are paid…
Q: At January 1, 2020, Teal Company’s outstanding shares included the following. 276,000 shares of…
A: Notes: 1) Net income available for common shareholders = Net Income - Preferred Share Dividend =…
Q: Wissam Company was established on January 1, 2017. The Company issued 10,000 shares of common stock…
A: Cumulative preference shares are those shares for which the shareholders get the dividend for those…
Q: On January 2, 2014, Sunland Corporation issued 29700 shares of 5% cumulative preferred stock at $100…
A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…
Q: Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Wissam Company was established on January 1, 2017. The Company issued 10,000 shares of common stock…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: On January 1, 2021, Sunland Corp. had 459,000 shares of common stock outstanding. During 2021, it…
A: As you have posted multiple independent questions, we are answering the first three questions.…
Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…
A: The purchase of own shares is known as treasury stock.
Q: Clark Company has 100,000 shares of common stock ($1 par value) outstanding on January 1, 2017, with…
A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…
Q: Notebook Company had the following transactions in 2019, its first year of operations. · Issued…
A:
Q: Crane Inc. began operations in January 2018 and reported the following results for each of its 3…
A: a)Computation of the book value of the common stock at December 31, 2020 as follows:- Computation…
Q: Mai Corporation was organized on January 1, 2016, During its first year, the corporation issued…
A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…
Q: At the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding.…
A: Solution: Introduction: Share of stock represents both Common and Preferred stock of capital which…
Q: On January 1, 2018, Tonge Industries had outstanding 700,000 common shares ($1 par) that originally…
A: Earnings per share is the amount of money per share earned, by the common stockholders of the…
Q: During the first year of operation, a company issued 60,000 shares of $2 par value common stock at a…
A: Paid in Capital Common Stock will consist of preferred and common stock in total. It is also called…
Q: Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50…
A: Dividend arrears are paid for cumulative preferred stock. Arrears in Year 1 = 20,000*$50*6% Arrears…
Q: Ringmeup Inc. had net income of $148,800 for the year ended December 31, 2019. At the beginning of…
A: Weighted average number of outstanding shares = 38,000×412 + 53,000×712 + 48,300×112…
Q: On January 1, 2019, Metco Inc. reported 296,000 shares of $6 par value common stock as being issued…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: As of December 31, 2020, the Russell Corporation has 10,000 shares of 10% preferred stock issued and…
A:
Q: A company was organized on January 2, 2018. During the first year of operation, it issued 60,000…
A: Paid in Capital Common Stock will consist of preferred and common stock in total. It is also called…
Q: Yakun company had 4,000 shares of P7.00, P100 par preferred stock and 50,000 shares of common stock…
A: Earnings per share refer to the amount of earnings available to the common stockholders for each…
Q: On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding that was issued…
A: Given information is: Outstanding common stock = $10,00,000 Retained Earnings = $750,000 Net income…
Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…
A: Journal Entry - It is record of every business transaction whether it economic or non economic for a…
Q: On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity…
A: Answer :For this problem we have to record all transaction in Journal entry format.
Nowell Inc. had the following stock issued and outstanding at January 1, 2018:
- 150,000 shares of no-par common stock.
-
30,000 shares of $50 par, 4 percent, cumulative
preferred stock . (Dividends are in arrears for one year, 2017.)
On March 8, 2018, Nowell declared a $175,000 cash dividend to be paid March 31 to shareholders of record on March 20.
Required
What amount of dividends will be paid to the preferred shareholders versus the common shareholders?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares of 10%, 100 par, nonconvertible preferred stock outstanding, on which the years dividends had been paid. At the beginning of 2019, the company had 7,000 shares of common stock outstanding. On April 2, 2019, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2019. Common dividends of 17,000 had been paid during 2019. At the end of 2019, the market price per share of common stock was 17.50. Required: 1. Compute Mononas basic earnings per share for 2019. 2. Compute the price/earnings ratio for 2019.Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?
- Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its 10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was 20 per share. The shares were issued on December 24, 2019. What was the effect on Garretts shareholders equity accounts as a result of the preceding transactions?Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 0 par common stock at 0, 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 375. The bonds are classified as a held- to-maturitv 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 545, including commission. p. Recorded the payment of semiannual interest on the bonds issued 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 (1). 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 had a beginning balance of zero. Instructions Journalize the selected transactions. After all of the transactions for the year ended December 31, 2016, had been posted [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 income statement for the year ended December 31, 2016, 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, 2016. c. Prepare a balance sheet in report form as of December 31, 2016. Income statement data: Advertising expense 150,000 Cost of merchandise sold 3,700,000 Delivery expense 30,000 Depreciation expense -office buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Dividend revenue 4,500 Gain on sale of investment 4,980 Income from Pinkberry Co. investment 76,800 Income tax expense 140,500 Interest expense 21,000 Interest revenue 2,720 Miscellaneous administrative expense 7.500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,254,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available for sale investments (at cost) 260,130 Bonds payable. 5%. due 2024 500,000 Cash 246,000 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued. 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory [December 31, 2016). at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4.320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock. 80 par (30,000 shares authorized; 20,000 shares issued] 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 2016 9,319,725 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 Unrealized gain (loss) on available for sale investments (6,500) Valuation allowance for available for sale investments (6,500)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 375. The bonds are classified as a heldtomaturity 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 issued 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 (l). 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 had a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 2016, had been posted [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 income statement for the year ended December 31, 2016, 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, 2016. c. Prepare a balance sheet in report form as of December 31, 2016.
- Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.Percy Company has 15,000 shares of common stock outstanding during all of 2019. It also has 2 convertible securities outstanding at the end of 2019. These are: 1. Convertible preferred stock: 1,000 shares of 9%, 100 par, preferred stock were issued in 2015 for 140 per share. Each share of preferred stock is convertible into 3.5 shares of common stock. The current dividends have been paid. To date, no preferred stock has been converted. 2. Convertible bonds: Bonds with a face value of 100,000 and an interest rate of 10% were issued at par on July 1, 2019. Each 1,000 bond is convertible into 35 shares of common stock. To date, no bonds have been converted. Percy earned net income of 54,000 during 2019. Its income tax rate is 30%. Required: Compute the 2019 diluted earnings per share. What earnings per share amount(s) would Percy report on its 2019 income statement?Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
- Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73Winona Company began 2019 with 10,000 shares of 10 par common stock and 2,000 shares of 9.4%, 100 par, convertible preferred stock outstanding. On April 2 and June 1, respectively, the company issued 2,000 and 6,000 additional shares of common stock. On November 16, Winona declared a 2-for-1 stock split. The preferred stock was issued in 2018. Each share of preferred stock is currently convertible into 4 shares of common stock. To date, no preferred stock has been converted. Current dividends have been paid on both preferred and common stock. Net income after taxes for 2019 totaled 109,800. The company is subject to a 30% income tax rate. The common stock sold at an average market price of 24 per share during 2019. Required: 1. Prepare supporting calculations for Winona and compute its: a. basic earnings per share b. diluted earnings per share 2. Show how Winona would report the earnings per share on its 2019 income statement. Include an accompanying note to the financial statements. 3. Next Level Assume Winona uses IFRS. Discuss what Winona would do differently for computing earnings per share, and then repeat Requirement 1 under IFRS.The following selected transactions and events occurred during 2013: a. Issued 200 shares of preferred stock for 20,000. b. Sold 800 shares of treasury stock for 2,800. c. Declared and issued a 4% common stock dividend. The market value on the date of declaration was 5 per share. d. Generated a net loss for the year of 16,000. e. Declared and paid the full years dividend on all the preferred stock and a dividend of 15 per share on common stock outstanding at the end of the year. Enter beginning balances for 2013 on STOCKEQ2. Then erase all 2012 entries and enter the transactions for 2013. Save the results as STOCKEQ4. Print the results.
