INTERMEDIATE ACCOUNTING RMU 9TH EDITION
9th Edition
ISBN: 9781260998726
Author: SPICELAND
Publisher: MCG
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Textbook Question
Chapter 18, Problem 18.10BE
Cash dividend
• LO18–8
Real World Financials
Following is a recent Microsoft press release:
REDMOND, Wash.—March 16, 2016—Microsoft today announced that its board of directors have declared a quarterly dividend of $0.36 per share. The dividend will be payable on June 9, 2016, to shareholders of record on May 19, 2016. The ex-dividend date will be May 17, 2016.
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LO 11-3
& Decker
E11-13 Accounting for Dividends
Stanley Black & Decker is a leading global manufacturer and marketer of power tools, hardware,
and home improvement products. A press release contained the following announcement:
NEW BRITAIN, Conn.-(BUSINESS WIRE)-Oct. 15, 2019-Stanley Black & Decker (NYSE: SWK)
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ab At the time of the press release, the company had 300 million shares authorized and 148 mil-
lion outstanding. The par value for the company's stock is $2.50 per share.
Chapter 11 Comprehensive Problem – CP11-11
The following note appeared on the balance sheet of Sabre Rigging Limited: As of December 31, 2019, dividends on the cumulative preferred stock were in arrears for three years to the extent of $15 per stock or $15,000 in total.
Required: 1.Does the amount of the arrears appears as a liability on the December31, 2019 balance sheet? Explain your answer.
Why might the dividends be in arrears?
The comptroller of Sabre Rigging projects net income for the2020 fiscal year of $35,000. When the company last paid dividends, the directors allocated 50 per cent of current year’s net income for dividends. If dividends on shares of preferred stock are resumed at the end of 2020 and the established policy of 50 per cent is continued, how much will be available for dividends to the common stockholders if the profit projection is realized?
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Five Measures of Solvency or Profitability
The balance sheet for Quigg Inc. at the end of the current fiscal year indicated the following:
Bonds payable, 6%
$900,000
Preferred $10 stock, $50 par
46,000
Common stock, $10 par
644,000
Income before income tax expense was $162,000,and income taxes were $24,000 for the current year. Cash dividends paid on common
stock during the current year totaled $25,760. The common stock was selling for $16 per share at the end of the year.
Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the
nearest whole cent. Use the rounded answers for subsequent requirements, if required.
a. Times interest earned ratio
times
b. Earnings per share on common stock
c. Price-earnings ratio
d. Dividends per share of common stock
e. Dividend yield
5:32 PM
12/12/2020…
Chapter 18 Solutions
INTERMEDIATE ACCOUNTING RMU 9TH EDITION
Ch. 18 - Identify and briefly describe the two primary...Ch. 18 - Prob. 18.2QCh. 18 - Prob. 18.3QCh. 18 - Prob. 18.4QCh. 18 - Prob. 18.5QCh. 18 - Prob. 18.6QCh. 18 - Prob. 18.7QCh. 18 - What is meant by a shareholders preemptive right?Ch. 18 - Terminology varies in the way companies...Ch. 18 - Most preferred shares are cumulative. Explain what...
Ch. 18 - The par value of shares historically indicated the...Ch. 18 - Prob. 18.12QCh. 18 - How do we report components of comprehensive...Ch. 18 - The balance sheet reports the balances of...Ch. 18 - At times, companies issue their shares for...Ch. 18 - Prob. 18.16QCh. 18 - The costs of legal, promotional, and accounting...Ch. 18 - When a corporation acquires its own shares, those...Ch. 18 - Discuss the conceptual basis for accounting for a...Ch. 18 - The prescribed accounting treatment for stock...Ch. 18 - Brandon Components declares a 2-for-1 stock split....Ch. 18 - What is a reverse stock split? What would be the...Ch. 18 - Suppose you own 80 shares of Facebook common stock...Ch. 18 - Prob. 18.24QCh. 18 - Comprehensive income LO181 Schaeffer Corporation...Ch. 18 - Stock issued LO184 Penne Pharmaceuticals sold 8...Ch. 18 - Prob. 18.3BECh. 18 - Prob. 18.4BECh. 18 - Prob. 18.5BECh. 18 - Retirement of shares LO185 Agee Storage issued 35...Ch. 18 - Treasury stock LO185 The Jennings Group...Ch. 18 - Prob. 18.8BECh. 18 - Prob. 18.9BECh. 18 - Cash dividend LO188 Real World Financials...Ch. 18 - Effect of preferred stock on dividends LO187 The...Ch. 18 - Property dividend LO187 Adams Moving and Storage,...Ch. 18 - Stock dividend LO188 On June 13, the board of...Ch. 18 - Prob. 18.14BECh. 18 - Stock split LO188 Refer to the situation...Ch. 18 - Prob. 18.16BECh. 18 - Comprehensive income LO182 The following is from...Ch. 18 - Prob. 18.2ECh. 18 - Earnings or OCI? LO182 Indicate by letter whether...Ch. 18 - Stock issued for cash; Wright Medical Group LO184...Ch. 18 - Issuance of shares; noncash consideration LO184...Ch. 18 - Prob. 18.6ECh. 18 - Share issue costs; issuance LO184 ICOT Industries...Ch. 18 - Reporting preferred shares LO184, LO187 Ozark...Ch. 18 - Prob. 18.9ECh. 18 - Prob. 18.10ECh. 18 - Retirement of shares LO185 In 2018, Borland...Ch. 18 - Treasury stock LO185 In 2018, Western Transport...Ch. 18 - Treasury stock; weighted-average and FIFO cost ...Ch. 18 - Prob. 18.14ECh. 18 - Prob. 18.15ECh. 18 - Prob. 18.16ECh. 18 - Transact ions affecting retained earnings LO186,...Ch. 18 - Effect of cumulative, nonparticipating preferred...Ch. 18 - Stock dividend LO188 The shareholders equity of...Ch. 18 - Prob. 18.20ECh. 18 - Cash in lieu of fractional share rights LO188...Ch. 18 - Prob. 18.22ECh. 18 - Transact ions affecting retained earnings LO186...Ch. 18 - Profitability ratio LO181 Comparative balance...Ch. 18 - Prob. 18.25ECh. 18 - Various stock transactions; correction of journal...Ch. 18 - Share buybackcomparison of retirement and treasury...Ch. 18 - Reacquired sharescomparison of retired shares and...Ch. 18 - Prob. 18.4PCh. 18 - Shareholders equity transactions; statement of...Ch. 18 - Prob. 18.6PCh. 18 - Prob. 18.7PCh. 18 - Prob. 18.8PCh. 18 - Effect o f preferred stock characteristics on...Ch. 18 - Prob. 18.10PCh. 18 - Stock dividends received on investments;...Ch. 18 - Various shareholders equity topics; comprehensive ...Ch. 18 - Prob. 18.13PCh. 18 - Prob. 18.1BYPCh. 18 - Prob. 18.2BYPCh. 18 - Research Case 184 FASB codification; comprehensive...Ch. 18 - Judgment Case 185 Treasury stock; stock split;...Ch. 18 - Prob. 18.6BYPCh. 18 - Prob. 18.7BYPCh. 18 - Prob. 18.8BYPCh. 18 - Prob. 1CCTC
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