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oyment OppClass Specifications | SortedWileyPLUShttps://edugen.wileyplus.com/edugen/student/mainfr.uniWileyPLUS: MyWileyPLUS | Help I Contact UKieso, Intermediate Accounting, 16eINTERMED. ACCOUNTING (ACC 31acticeAssignmentGradebookORIONDownloadable eTextbookgnmentCALCULATORPRINTER VERSIONFULL SCREENBACKExercise 15-9Your answer is partially correct. Try again.Bramble Corporation has 10,800 shares of $100 par value, 7%, preferred stock and 46,500 shares of $10 par valuecommon 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, whatare the dividends in arrears at December 31, 2017?Amount of dividends in arrears226,800How should these dividends be reported?not reportedThe cumulative dividend isas a liability.(b) If the preferred stock is convertible into 7 shares of $10 par value common stock and 3.500 shares are convertedto search10:30 AM9/20/2019XPrintScreenF8F9F6F4F5F7F10F11F12$%&(9)67+IO*COLO4 Xaloyment OppClass Specifications | SortedWileyPLUShttps://edugen.wileyplus.com/edugen/student/mainfr.uni245,000Common Stock105,000Paid-in Capital in Excess of Par Common Stock(c) If the preferred stock was issued at $106 per share, how should the preferred stock be reported in the stockholdersequity section? (Enter account name only and do not provide descriptive information.)Bramble CorporationBalance Sheet (Partial)XTotal Stockholders' EquityX4,650,000Preferred Stock465,000Paid-in Capital in Excess of Par - Preferred StockSHOW LIST OF ACCOUNTSLINK TO TEXTLINK TO TEXTQuestion Attempts: 2 of 3 usedSAVE FOR LATERSUBMIT ANSWERivacy Policy I2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.Version 4.24.15.610:30 AMo search9/20/2019XPrintScreenF8F6F7F9F4F5F10F11F12IT&+

Question

Section c

oyment Opp
Class Specifications | Sorted
WileyPLUS
https://edugen.wileyplus.com/edugen/student/mainfr.uni
WileyPLUS: MyWileyPLUS | Help I Contact U
Kieso, Intermediate Accounting, 16e
INTERMED. ACCOUNTING (ACC 31
actice
Assignment
Gradebook
ORION
Downloadable eTextbook
gnment
CALCULATOR
PRINTER VERSION
FULL SCREEN
BACK
Exercise 15-9
Your answer is partially correct. Try again.
Bramble Corporation has 10,800 shares of $100 par value, 7%, preferred stock and 46,500 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
226,800
How should these dividends be reported?
not reported
The cumulative dividend is
as a liability.
(b) If the preferred stock is convertible into 7 shares of $10 par value common stock and 3.500 shares are converted
to search
10:30 AM
9/20/2019
X
Print
Screen
F8
F9
F6
F4
F5
F7
F10
F11
F12
$
%
&
(
9
)
6
7
+I
O
*CO
LO
4
help_outline

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oyment Opp Class Specifications | Sorted WileyPLUS https://edugen.wileyplus.com/edugen/student/mainfr.uni WileyPLUS: MyWileyPLUS | Help I Contact U Kieso, Intermediate Accounting, 16e INTERMED. ACCOUNTING (ACC 31 actice Assignment Gradebook ORION Downloadable eTextbook gnment CALCULATOR PRINTER VERSION FULL SCREEN BACK Exercise 15-9 Your answer is partially correct. Try again. Bramble Corporation has 10,800 shares of $100 par value, 7%, preferred stock and 46,500 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 226,800 How should these dividends be reported? not reported The cumulative dividend is as a liability. (b) If the preferred stock is convertible into 7 shares of $10 par value common stock and 3.500 shares are converted to search 10:30 AM 9/20/2019 X Print Screen F8 F9 F6 F4 F5 F7 F10 F11 F12 $ % & ( 9 ) 6 7 +I O *CO LO 4

fullscreen
X
aloyment Opp
Class Specifications | Sorted
WileyPLUS
https://edugen.wileyplus.com/edugen/student/mainfr.uni
245,000
Common Stock
105,000
Paid-in Capital in Excess of Par Common Stock
(c) If the preferred stock was issued at $106 per share, how should the preferred stock be reported in the stockholders
equity section? (Enter account name only and do not provide descriptive information.)
Bramble Corporation
Balance Sheet (Partial)
X
Total Stockholders' Equity
X
4,650,000
Preferred Stock
465,000
Paid-in Capital in Excess of Par - Preferred Stock
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
Question Attempts: 2 of 3 used
SAVE FOR LATER
SUBMIT ANSWER
ivacy Policy I2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.
Version 4.24.15.6
10:30 AM
o search
9/20/2019
X
Print
Screen
F8
F6
F7
F9
F4
F5
F10
F11
F12
IT
&
+
help_outline

Image Transcriptionclose

X aloyment Opp Class Specifications | Sorted WileyPLUS https://edugen.wileyplus.com/edugen/student/mainfr.uni 245,000 Common Stock 105,000 Paid-in Capital in Excess of Par Common Stock (c) If the preferred stock was issued at $106 per share, how should the preferred stock be reported in the stockholders equity section? (Enter account name only and do not provide descriptive information.) Bramble Corporation Balance Sheet (Partial) X Total Stockholders' Equity X 4,650,000 Preferred Stock 465,000 Paid-in Capital in Excess of Par - Preferred Stock SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 2 of 3 used SAVE FOR LATER SUBMIT ANSWER ivacy Policy I2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.15.6 10:30 AM o search 9/20/2019 X Print Screen F8 F6 F7 F9 F4 F5 F10 F11 F12 IT & +

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Step 1

(c)

 

Partial balance sheet of Brambl...

Bramble Corporation
Balance Sheet (Partial)
Paid-in capital
Preferred stock, $100 par 7%, 10,800 shares issued $10,80,000
Paid-in capital in excess of par (10,800 x 6)
$64,800
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Bramble Corporation Balance Sheet (Partial) Paid-in capital Preferred stock, $100 par 7%, 10,800 shares issued $10,80,000 Paid-in capital in excess of par (10,800 x 6) $64,800

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