Paid-in-capital Preferred stock, 5%,$15par, 7000 shares authorized, 5,500 shares issued. 82,500 common stock, $0.30 par, 1,200,000 shares authorized and issued 360,000 paid-in-capital in excess of par-common 400,000 Total paid in capital 842,500 Retained Earning 260,000 Total stockholder's Equity 1,102,500 Requirements: Is Partlow’s preferred stock cumulative or noncumulative? How can you tell? Partlow declares cash dividends of $30,000 for 2010. How much of thedividends goes to preferred. How much goes to common? Partlow passed the preferred dividend in 2011 and 2012. In 2013 thecompany declares cash dividends of $45,000. How much of the dividend goes to preferred? How much goes to common?
Paid-in-capital Preferred stock, 5%,$15par, 7000 shares authorized, 5,500 shares issued. 82,500 common stock, $0.30 par, 1,200,000 shares authorized and issued 360,000 paid-in-capital in excess of par-common 400,000 Total paid in capital 842,500 Retained Earning 260,000 Total stockholder's Equity 1,102,500 Requirements: Is Partlow’s preferred stock cumulative or noncumulative? How can you tell? Partlow declares cash dividends of $30,000 for 2010. How much of thedividends goes to preferred. How much goes to common? Partlow passed the preferred dividend in 2011 and 2012. In 2013 thecompany declares cash dividends of $45,000. How much of the dividend goes to preferred? How much goes to common?
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 73E: Preferred Dividends Eastern Inc.s equity includes 8%, $25 par preferred stock. There are 100,000...
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Question
Paid-in-capital |
|
|
82,500 |
common stock, $0.30 par, 1,200,000 shares authorized and issued |
360,000 |
paid-in-capital in excess of par-common |
400,000 |
Total paid in capital |
842,500 |
|
260,000 |
Total |
1,102,500 |
Requirements:
- Is Partlow’s preferred stock cumulative or noncumulative? How can you tell?
- Partlow declares cash dividends of $30,000 for 2010. How much of thedividends goes to preferred. How much goes to common?
- Partlow passed the preferred dividend in 2011 and 2012. In 2013 thecompany declares cash dividends of $45,000. How much of the dividend goes to preferred? How much goes to common?
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