Kingdom Corporation has the following $500,000 Preferred stock, $10 par value, 7%, 50,000 shares issued Common stock, $15 par value, 300,000 shares issued and outstanding $4,500,000 - In 2020, The company declared and paid $30,000 of cash dividends In 2021. The company declared and paid $150,000 of cash dividend Required: How much is the TOTAL cash dividends that will be distributed to preferred and common stockholders over the two years, assuming the preferred stock is Non-cumulative Please DO NOT use the "S" and "," signs in you answer. For example, if the right answer is Preferred $10,000 and Common $15,000, it should be :EXACTLY Written as 10000 15000 Preferre Common
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- Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its 10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was 20 per share. The shares were issued on December 24, 2019. What was the effect on Garretts shareholders equity accounts as a result of the preceding transactions?Kingdom Corporation has the following: - Preferred stock, $10 par value, 9%, 50,000 shares issued $500,000 - Common stock, $15 par value, 300,000 shares issued and outstanding $4,500,000 In 2020, The company declared and paid $30,000 of cash dividends. In 2021, The company declared and paid $150,000 of cash dividend. Required: How much is the TOTAL cash dividends that will be distributed to preferred and common stockholders over the two years, assuming the preferred stock is cumulative Please DO NOT use the "$" and "," signs in you answer. For example, if the right answer is Preferred $10,000 and Common $15,000, it should be EXACTLY written as: 10000 15000 Preferred Common
- Al Hamra Company issues 500,000 shares of common stock on January 1, 2020 trading at RO 0.200 per share. On June 30, 2020, a 10% stock dividend is declared. How many additional shares will be issued by the company to the shareholders as a result of the stock dividends declared? a. 500,000 b. 50,000 c. 100,000 d. 150,000 How much is the cash flow from operating activities from the following data of Majan Corporation for the year 2020: RO 000 Proceeds from sale of long-term investment RO 100 Issuance of capital stock RO 65 Depreciation expense RO 15 Operating profit RO 405 Purchase of plant assets RO 65 Decrease in inventories RO 150 Increase in accounts payable RO 150 Increase in accounts receivable RO 225 Retirement of bonds payable RO 75 Payment of cash dividends RO 130 Taxes paid RO 25 Gain on sale of fixed asset RO 40 a. RO 430 b. RO 455 c. RO 325 d. RO 495Spring Inc. reports the following information: Net income: $750,000 Dividends on common shares: $210,000 Dividends on preferred shares: $90,000 Average number of common shares outstanding: 250,000 Spring Inc. should report earnings per share of: Question 7 options: $2.16 $1.80 $3.00 $2.64 In 2020, Big Mountain Inc. reported net income of $75,000, and declared and paid a dividend of $14,000. The balance in the retained earnings account on December 31, 2020, was $86,000. What was the opening balance in retained earnings on January 1, 2020? Question 8 options: $25,000 $147,000 $61,000 $86,000ABC Corporation has the following information extracted from the financial statements: - Preferred stock, $20 par value, 10%, 70,000 shares issued S 1.400,000-Common stock, S10 par value, 100,000 shares issued and outstanding S 1,000,000In 2019, The company declared and paid S80,000 of cash dividends.In 2020, The company declared and paid$300,000 of cash dividend. Required:Calculate the total cash dividends that will be distributed to preferred and common stockholders, assuming the preferred stock is cumulative.
- Kingdom Corporation has the following. Preferred stock, $10 par value, 9%, 50,000 shares issued In 2020, The company declared and paid $30,000 of cash dividends. $50 - Common stock, $15 par value, 300,000 shares issued and outstanding $4, In 2021. The company declared and paid $150,000 of cash dividend. Required: How much is the TOTAL cash dividends that will be distribu preferred stock is cumulativeThe following data are extracted from the equity section of the balance sheet of Delta Corporation: 12/31/2019 12/31/2020 Common stock ($2par value) $100,000 $110,000 APIC-Common 50,000 58,000 Treasury stock (2,000 shares) 12,000 - Retained earnings 100,000 150,000 During 2020, the corporation declared cash dividends of $20,000 but paid only $14,000. In addition, the corporation declared stock dividends and issued the stock. Net income for 2020 was $30,000. There were no other changes in stock issued and outstanding during 2020. Calculate the amount (per share) for which Delta sold the treasury stock in 2020Marlene Co. had 300 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Marlene Co.’s Board of Directors declared and distributed a 1% common stock dividend when the market value of its common stock was $60 per share. In recording this transaction, Marlene would: a. Debit retained earnings for $180 million. b. Credit paid-in capital—excess of par for $180 million. c. Credit common stock for $180 million. d. None of these answer choices correct.
- Java Company earned net income of $85,000 during the year ended December 31, 2024. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares). Java then paid the dividends on January 4, 2025. Read the requirements. Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2024. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date 2024 Dec. 15 Accounts and Explanation Debit Credit Requirements 1. Journalize for Java the entry declaring the cash dividends on December 15, 2024. 2. Journalize for Java the entry paying the cash dividends on January 4, 2025. XPlease answer in good accounting form. Thankyou During 2021, CAPTAIN AMERICA Company had two classes of shares issued and outstanding for the entire year. Additional information are as follows: Ordinary share capital, par ₱10 - ₱1,000,000; 7% Preference share capital, ₱100 par, cumulative - ₱500,000. The net income for the year amounts to ₱500,000. What is the basic earnings per share?The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $16 million, $35 million, and $100 million in its first three years of operation - 2021, 2022, and 2023, respectively. ($ in millions) Common stock $175 Paid-in capital -excess of par, common 990 Preferred stock, 8% 350 Paid-in capital-excess of par, preferred 500 Required: Determine the amount of dividends to be paid to preferred and common shareholders…