Torres Company began business on June 30, 2018. At that time, it issued 17,500 shares of $40 par value, 8% cumulative preferred stock and 70,000 shares of $5 par value common stock. Through the end of 2020, there has been no change in the number of preferred and common shares outstanding. a. Assume the company declared and paid cash dividends of $72,100 in 2018, $0 in 2019, and $322,700 in 2020. Compute the total cash dividends and the dividends per share paid to each class of stock in 2018, 2019, and 2020. 2018 Total Dividends Dividends per Share Preferred shareholders: Answer Answer Common shareholders: Answer Answer 2019 Total Dividends Dividends per Share Preferred shareholders: Answer Answer Common shareholders: Answer Answer 2020 Total Dividends Dividends per Share Preferred shareholders: Answer Answer Common shareholders: Answer Answer

Q: Miami Heat Inc. began operations in January2017, and reported the following results for each of its…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: On January 1, 2020, Ivanhoe Inc. had the following stockholders' equity balances. Common Stock…

A: The stockholders' equity statement is prepared by the company to calculate the amount of common…

Q: On January 1, 2020, Ivanhoe Inc. had the following stockholders' equity balances. Common Stock…

A: Statement of Changes in Stockholder's equity provides the users of the statements with the…

Q: 100,000 Common stock, $10 par 500,000 Additional paid-in capital on preferred stock 20,000…

A: feb 2 dividend payable : preferred 4,000     dividend payable : common 40,000        to cash…

Q: The post-closing trial balance of Carla Vista Corporation at December 31, 2020, contains the…

A: Stockholder equity:  Retained earnings plus share capital make up the account on a company's balance…

Q: During 2018, Longhorn Corp. had net income of $300,000 and paid dividends to its preferred…

A: The question is based on the concept of Shares and debentures.

Q: On January 1, 2020, Volume Company had the following account balance carried over from the previous…

A: The treasury share are the shares that are repurchased by the company fron its own issued shares.

Q: Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2…

A: Earnings per shares refers to the profit earned by each shareholder after paying all the expenses of…

Q: Monona Company reported net income of $29,975 for 2019. During all of 2019, Monona had 1,000 shares…

A: Earnings per share refer to the amount that is earned by the stockholders on every share held by…

Q: Comprehensive Dakota Corporation had the following shareholders' equity account balances at…

A: Definition: Retained earnings: Retained earnings are that portion of profits which are earned by a…

Q: On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During 2021, it…

A: Formula: Earning per share = Net Income / Weighted average number of shares outstanding or Earning…

Q: Skysong Company had the following stockholders’ equity as of January 1, 2020. Common stock, $5 par…

A:

Q: Miami Heat Inc. began operations in January2017, and reported the following results for each of its…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Carlyon Company listed the following items in its December 31, 2018, financial statements:…

A: Introduction: Journal entry is an accounting entry to record every transaction takes place in an…

Q: Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued…

A: No of shares issued = 60,000 shares Par value of shares issued = $2 Net Income = $250,000 Dividend =…

Q: Ringmeup Inc. had net income of $186,400 for the year ended December 31, 2019. At the beginning of…

A: Basic Earnings per share of common stock is computed by dividing the Net income less preferred…

Q: Wissam Company was established on January 1, 2017. The Company issued 10,000 shares of common stock…

A: This question is asking preference share dividend, Common stock dividend, and the journal entry at…

Q: Blue Spruce Limited reported profit of $436,010 for its November 30, 2021, year end. Cash dividends…

A: Profit available to common share holders= Net profit- Preference dividend = 436010-69500 = 366510

Q: Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share…

A: Preferred Common Total 2018 arrears $560,000 ($4 X 140,000 shares) - $560,000 2019…

Q: Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the beginning of…

A: Earnings Per Share: =Earnings attributable to shareholders / Weighted average number of shares…

Q: Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: On January 1, 2020 ,Herron Corporation purchased 5,000 shares of treasury stock. Other information…

A: Return on Common Stockholders' Equity will be calculated using following Formulae : Return on Common…

Q: enden Company was organized on January 1, 2020 at which date it issued 300,000 ordinary shares of P6…

A: Treasury Stock refers to the purchasing back of shares of the company that are already issued.

Q: 77,000 shares authorized and issued*   1,232,000

A: A Dividend is a payment given to stakeholders by a corporation. When a firm makes a profit or has a…

Q: Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share…

A: Cumulative preference share holders enjoy the right to claim any unpaid dividend from the previous…

Q: Madison Company earned net income of $75,000 during the year ended December 31, 2018. On December…

A: Annual Dividend to Preferred shareholders = Par value of preferred share x rate of dividend =…

Q: On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During 2021, it…

A: GIVEN     On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During…

Q: Miami Heat Inc. began operations in January2017, and reported the following results for each of its…

A: Cumulative preference shares have all of the perks of regular preference shares, including increased…

Q: The records of Hoffman Company reflected the following balances in the stockholders’ equity accounts…

A: In case of cumulative  preferred  stock  the arrears of dividend  should also  be paid

Q: Earnhart Corporation has outstanding 3,000,000 shares of common stock with a par value of $10 each.…

A: a. Prepare the journal entry to record the declaration and payment of the cash dividend.

Q: Carlyon Company listed the following items in its December 31, 2018, financial statements:…

A: Prepare journal entries to record the preceding transactions:

Q: The Red Hat Company began operations in January 2018 and reported the following results of…

A: Preference Share Capital = P 6,000,000 Dividend = 9%  Preference share outstanding = 60,000 Ordinary…

Q: At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year…

A: Retained earnings represent the accumulated funds available to the company out of which the dividend…

Q: Bramble Inc. began operations in January 2018 and reported the following results for each of its 3…

A: Requirement 1:

Q: Comprehensive Dakota Corporation had the following shareholders' equity account balances at…

A: Statement of Retained earnings(R/E):  it shows the changes in the R/E over the period. The R/E are…

Q: Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Wissam Company was established on January 1, 2017. The Company issued 10,000 shares of common stock…

A: Dividend means the amount given to shareholder of the company as profit distribution by company.…

Q: Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share…

A: Dividend is the return which is paid to the shareholders for investing in the business entity and…

Q: Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each…

A: a.   Compute the book value of the common stock at December 31, 2020.

Q: Clark Company has 100,000 shares of common stock ($1 par value) outstanding on January 1, 2017, with…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: Crane Inc. began operations in January 2018 and reported the following results for each of its 3…

A: a)Computation of the book value of the common stock at December 31, 2020 as follows:- Computation…

Q: Pluto Company began operations on January 1, of 500,000 preference shares of P5 par value of which…

A: Contributed Capital is the amount a company receives on the account of issue of common and preferred…

Q: Sandhill Company reported the following amounts in the stockholders’ equity section of its December…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50…

A: Dividend arrears are paid for cumulative preferred stock. Arrears in Year 1 = 20,000*$50*6% Arrears…

Q: On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding that was issued…

A: Given information is: Outstanding common stock = $10,00,000 Retained Earnings = $750,000 Net income…

Q: On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity…

A: Answer :For this problem we have to record all transaction in Journal entry format.

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.