Sandpiper company has 20,000 share of 1% cumulative preferred stock of $100 par and 100,000 shares of $50 par common stock. The following amount were distributed as dividends; Year 1 $10,00 Year 2 $45,000 Year 3 $80,000 Determine the dividends per share for preferred and common stock for each year.
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A: Annual dividend payable to preferred stock = 25,000 * $50 * 2% = $25,000
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A: 1. Dividend per share is the total amount of dividends. 2. Preferred and common stock is both equity…
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A: Dividends is the share or part of profits that is being distributed to the common as well as…
Q: Sandpiper Company has 10,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of…
A: Formula: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value…
Q: Sandpiper Company has 20,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of…
A: Annual Preferred Dividends = 20,000 shares x $50 x 2% = $20,000 Cumulative Preferred Stock means…
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A: Annual preferred dividends $ 40,000 20000*100*2% Preferred shareholders' are given $40,000…
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A: Common Stock Dividend = Total Dividend distributed during the year - Preferred Dividend
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A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…
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A: Total dividend to be paid to preferred holders=Number of share×Par value×10%=5,000×$2×10%=$1,000
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A:
Q: Sandpiper Company has 10,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of…
A: Calculate preferred stock dividend per year.
Q: Sandpiper Company has 25,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of…
A: The dividend is the amount paid by the company to its shareholders out of its accumulated earnings.…
Q: Sabas Company has 40,000 shares of $100 par, 1% preferred stock and 100,000 shares of $50 par common…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sabas Company has 40,000 shares of $100 par, 1% preferred stock and 100,000 shares of $50 par common…
A: Annual preferred dividends 40000 =40000*100*1%
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Q: Texas Inc. has 12,000 shares of 8%, $125 par value cumulative preferred stock and 90,000 shares of…
A: Stock Dividends: It refers to the payment of dividends by a company to its existing shareholders, in…
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A: The question is based on the concept of Financial Accounting. When the dividend is declared and paid…
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A: Common stockholders or shareholders are the shareholders who actually known as the real owner of the…
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A: The preferred shares are cumulative it means that if the dividend is not paid for the year then it…
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A: Shares are the units of the total stock of a company which shows the fractional ownership of the…
Q: Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50…
A: Dividend means the amount of profit distributed to the stock holder of the company. First dividend…
Q: Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sabas Company has 50,000 shares of $100 par, 1% preferred stock and 85,000 shares of $50 par common…
A: Annual preferred dividends $50,000 = 50000*100*1%
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A: Given data, Cumulative preferred stock =1,000 shares of $50 Common stock =50,000 shares of $10 Cash…
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A: Dividend per share= Dividend/ Number of shares Preference dividend is paid first and remaining…
Q: Windborn Company has 30,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of…
A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…
Q: Windborn Company has 25,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of…
A: Annual Dividend on Preferred stock = 25,000 x $100 x 3%Annual Dividend on Preferred stock = $75,000…
Q: Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sandpiper Company has 30,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of…
A: Preferred dividend is the dividend paid to preferred stockholders and this dividend will be given…
Q: Sanchez Company has 38,000 shares of 5% preferred stock of $100 par and 112,000 shares of $50 par…
A: Year 1 Year 2 Year 3 Total amount of dividend distributed $ 5,38,000 $…
Q: Sabas Company has issued and outstanding 20,000 shares of $100 par, 1% noncumulative preferred stock…
A: Solution- Dividend on preferred shares = 20000 * 100 * 1%=20000…
Q: Sandpiper Company has 20,000 shares of cumulative preferred 1% stock of $100 par and 100,000 shares…
A: Dividend per share: Dividend per share represents the amount of dividend paid to each…
Q: Seacrest Company has 15,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of…
A: Dividends is the part or share of profits that is being distributed to the shareholders of the…
Q: Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock of and 100,000 shares of…
A: There is a mistake in the question, the dividend of year 3 is 90,000 so I am giving the solution…
Q: Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of…
A: >Dividends are the payment to investors of stock or shares. >Usually, preferred…
Q: Year 1: $10,000 Year 2: 45,000 Year 3: 90,000 Determine the dividends per share for preferred and…
A: Generally, companies distribute a portion of there profit as dividend while retaining the remaining…
Q: company has 1,000 shares of $50 par value, 4.5% cumulative, preferred stock and 10,000 shares of $10…
A: As per IAS 33, Earnings per share standard Cumulative Preferred stockholders will be eligible for…
Q: Sandpiper Company has 15,000 shares of cumulative preferred 3% stock, $100 par and S50,000 shares of…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sandpiper company has 20000 shares of 1% cumulative preferred stock of $100 par and 100,000 shares…
A: Preferred shares are the shares which have preferences to receive dividends before the common…
Q: Seacrest Company has 15,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of…
A: The dividend is paid to shareholders every year on outstanding shares.
Q: Windborn Company has 20,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of…
A: Solution: In order to compute dividend per share for each class of stockholders, first we compute…
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- Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.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 37 5. The bonds are classified as a held-to-maturity 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 issue d 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 (I). 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 h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [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 in come statement for the year ended December 31, 201 6, 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, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.COMMON AND PREFERRED CASH DIVIDENDS Ramirez Company currently has 100,000 shares of 1 par common stock outstanding and 5,000 shares of 50 par preferred stock outstanding. On July 10, the board of directors declared a semiannual dividend of 0.30 per share on common stock to shareholders of record on August 1, payable on August 5. On July 15, the board of directors declared a semiannual dividend of 5 per share on preferred stock to shareholders of record on August 5, payable on August 10. Prepare journal entries for the declaration and payment of the common and preferred stock cash dividends.
- Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. Preferred stock subscriptions receivable 50,000 Preferred stock, 10 par, 9% (200,000 shares authorized; 20,000 shares issued)200,000 Preferred stock subscribed (10,000 shares)100,000 Paid-in capital in excess of parpreferred stock40,000 Common stock, 10 par (100,000 shares authorized; 60,000 shares issued)600,000 Paid-in capital in excess of parcommon stock250,000 Retained earnings750,000 During 20--, Gonzales Company completed the following transactions affecting stockholders equity: (a) Received 20,000 for the balance due on subscriptions for 4,000 shares of preferred stock with a par value of 40,000 and issued the stock. (b) Purchased 10,000 shares of common treasury stock for 18 per share. (c) Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d) Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e) Sold 5,000 shares of common treasury stock for 100,000. (f) Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g) Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is Jupiter Corporations weighted average number of shares for the year?
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements.Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.