Your answer is incorrect. Try again. Bramble Company's ledger shows the following balances on December 31, 2020. $ 216,000 3,230,000 6% Preferred Stock-S10 par value, outstanding 21,500 shares Common Stock-$100 par value, outstanding 32,300 shares Retained Eamings 618,000 Assuming that the directors decide to declare total dividends in the amount of $353,000, determine how much each dass of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating. (Round the rate of participation to 4 decimal places, eg.1.4278. Round answers to o decimal places, e.g. S38,487.) Common 196.896 Preferred 156.104 (b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, eg. $38,487.) Preferred Common 12,420 340,580 () The preferred stock is noncumulative and is participating in distributions in excess of a 8% dividend rate on the common stock. (Round the rate of participation to 4 decimal places, eg.1.4278. Round answers to o decimal places, eg. S38,487.) Preferred Common 45.292 307,708
Your answer is incorrect. Try again. Bramble Company's ledger shows the following balances on December 31, 2020. $ 216,000 3,230,000 6% Preferred Stock-S10 par value, outstanding 21,500 shares Common Stock-$100 par value, outstanding 32,300 shares Retained Eamings 618,000 Assuming that the directors decide to declare total dividends in the amount of $353,000, determine how much each dass of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating. (Round the rate of participation to 4 decimal places, eg.1.4278. Round answers to o decimal places, e.g. S38,487.) Common 196.896 Preferred 156.104 (b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, eg. $38,487.) Preferred Common 12,420 340,580 () The preferred stock is noncumulative and is participating in distributions in excess of a 8% dividend rate on the common stock. (Round the rate of participation to 4 decimal places, eg.1.4278. Round answers to o decimal places, eg. S38,487.) Preferred Common 45.292 307,708
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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