The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current wear: Common stock, $12 par value, 35,000 shares outstanding Preferred stock, 9 percent, $10 par value, 10,000 shares outstanding Retained earnings, $229,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $77,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. o. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under he two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share Preferred stock Common stock
The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current wear: Common stock, $12 par value, 35,000 shares outstanding Preferred stock, 9 percent, $10 par value, 10,000 shares outstanding Retained earnings, $229,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $77,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. o. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under he two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share Preferred stock Common stock
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 3R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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