Problem 3 - Shareholders Equity BlueBox Corporation Blue Box began operations on January 1 2015. The company has paid the following amounts in cash dividends over the past 7 years Preferred Stock: 15,000 Shares outstanding, 10% dividend, $50 par value Common Stock: 50,000 Shares outstanding, $15 Prepare a schedule that contains the following: A- No Carryover B -Preferred In Arrears Year Total Dividends Dividends to Dividends to Dividends to Dividends to Dividends to Declared Preferred Common Preferred Preferred in arrears Common 2015 $ 65,000 2016 $ 100,000 2017 $ 70,000 2018 $ 50,000 2019 $ 125,000 2020 $ 110,000 2021 $ 99,000 Req (A): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are not paid in future years Req (B): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are paid in arrears before common stock dividends in future years when dividends are declared.

Problem 3 - Shareholders Equity BlueBox Corporation Blue Box began operations on January 1 2015. The company has paid the following amounts in cash dividends over the past 7 years Preferred Stock: 15,000 Shares outstanding, 10% dividend, $50 par value Common Stock: 50,000 Shares outstanding, $15 Prepare a schedule that contains the following: A- No Carryover B -Preferred In Arrears Year Total Dividends Dividends to Dividends to Dividends to Dividends to Dividends to Declared Preferred Common Preferred Preferred in arrears Common 2015 $ 65,000 2016 $ 100,000 2017 $ 70,000 2018 $ 50,000 2019 $ 125,000 2020 $ 110,000 2021 $ 99,000 Req (A): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are not paid in future years Req (B): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are paid in arrears before common stock dividends in future years when dividends are declared.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 27BE: Retained Earnings Statement Listed below are events that affect stockholders equity. Reported net...

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CHALLENGE PROBLEM This problem challenges you to apply your cumulative accounting knowledge to move a step beyond the material in the chapter. LeeJin Corp. started a two-year period with 200,000 shares of 2 par common stock outstanding. During the two years, LeeJin had the following capital stock transactions: (a) Declared a 10% common stock dividend. The market value of the common stock was estimated at 8 per share. (b) Declared a cash dividend of 0.20 per share on common stock. (c) Declared a 30% common stock dividend. The market value of the common stock was estimated at 9 per share. (d) Declared a cash dividend of 0.20 per share on common stock. (e) Declared a two-for-one stock split. (f) Declared a cash dividend of 0.16 per share on common stock. REQUIRED 1. Prepare general journal entries for each of the transactions. Identify each transaction by the appropriate letter. (Assume that any cash or share distributions have been completed and are a matter of record before the next transaction occurs.) 2. Compute the following: (a) Number of shares of common stock outstanding after all the transactions have been completed. (b) The par value per share of LeeJins common stock after all the transactions have been completed.
Retained Earnings Statement Listed below are events that affect stockholders equity. Reported net income of $85,000. Paid a cash dividend of $10,000. Reported sales revenue of $120,000. Issued common stock of $50,000 Reported a net loss of $20,000. Reported of S35,000. Required: For each of the events, indicate whether it increases retained earnings (I), decreases retained earnings (D), or has no effect on retained earnings (NE).
Exercise 1-41 Stockholders Equity OBJECTIVE o On January 11 2019, Mulcahy Manufacturing Inc., a newly formed corporation, issued 1,000 shares of common stock in exchange for $150,000 cash. No other shares were issued during 2019, and no shares were repurchased by the corporation. On November 1, 2019, the corporations major stockholder sold 300 shares to another stockholder for $50000. The corporation reported net income of $37,500 for 2019. Required: Prepare the stockholders equity section of Mulcahys balance sheet at December 31, 2019.

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BlueBox Corporation
	Blue Box began operations on January 1 2015. The company has paid the following amounts in cash dividends over the
	past 7 years

	Preferred Stock: 15,000 Shares outstanding, 10% dividend, $50 par value

	Common Stock: 50,000 Shares outstanding, $15

Prepare a schedule that contains the following:
			A- No Carryover	B -Preferred In Arrears
	Year	Total Dividends	Dividends to	Dividends to	Dividends to	Dividends to	Dividends to
		Declared	Preferred	Common	Preferred	Preferred in arrears	Common
	2015	$ 65,000
	2016	$ 100,000
	2017	$ 70,000
	2018	$ 50,000
	2019	$ 125,000
	2020	$ 110,000
	2021	$ 99,000

Req (A): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are not paid in future years


Req (B): Complete this schedule for each year from 2015 through 2021 assuming that the missed preferred dividends are paid in arrears
before common stock dividends in future years when dividends are declared.