Darling Corporation issued 200,000 shares of $20 par value, 5% preferred stock on January 1, 2019, for $4,500,000. In December2021, Darling declared its first dividend of $800,000.Part 1Part 2If the preferred stock is not cumulative, how much of the $800,000 would be paid to common stockholders?Common Stock Dividends $

cumulative preference shares - there are the type of shares where if dividend is not declared in…

Answered: Darling Corporation issued 200,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Year 2023 - Wyly Corp. experienced the following events related to its common stock and preferred stock during 2023. Jan 15, issued 100,000 more shares of its $2 Par Value common stock for $15 per share. On March 1, declared dividends of $450,000 on common stock payable on November 1, to stockholders of record as of July 1. On September 15, declared dividends on its $10 Par Value 4% preferred stock payable on November 1, to stockholders of record as of October 1. There are 250,000 preferred stock shares outstanding. Year 2024 - On January 3, 2024, Wyly repurchased, as treasury stock, 2,000 shares of common stock at $13 per share. One month later Wyly repurchased another 3,000 shares of common stock at $12.50 per share. To raise needed cash, Wyly re-sold 3,200 shares of the treasury stock at $14 per share on Oct 15, 2024. Wyly uses the FIFO method when re-selling treasury stock. Requirements: Record the 2023 common stock and preferred stock issues and dividends in the general…
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Information concerning the capital structure of Catan Corporation follows Dec. 31, 2019 Dec. 31, 2020 100,000 shares 100,000 shares 10,000 shares $ 2,000,000 Common shares outstanding Convertible preferred shares outstanding 9% convertible bonds 10,000 shares Select one: a. $ 3.65 b. $ 4.75 c. $ 3.33 d. $ 5.00 $ 2,000,000 During 2020, Catan paid dividends of $ 1.00 per common share and $2.50 per preferred share. The preferred shares are non-cumulative, and convertible into 20,000 common shares. The 9% convertible bonds are convertible into 50,000 common shares. Net income for calendar 2020 was $500,000. Assume the income tax rate is 30%. Basic earnings per share for 2020 is
what are the dividends allocated to common stock? check pic
Assume the preferred stock is cumulative and Sterling passed the preferred dividend in 2022 and 2023. In 2024, the company declares cash dividends of $35,000. How much of the dividend goes to preferred stockholders and how much goes to common stockholders? Total Dividend Dividend to Preferred stockholders Dividend in arrears Current year dividend Total Dividend to preferred stockholders Dividend to common stockholders
Pharoah corporation issued $117000 shares of $19 par value cumulative, 7% preferred stock on January 1,2021 for $2530000 in December 2023 pharoah declared its first dividend of $840000 if the preferred stock is not cumulative how much of the $840000 would be paid to common stockholders? Common stock dividends
The stockholders' equity of A Company at the end of 2023 and 2022 are as follows: 2023 2022 Preferred stock, P100 par, 12% P1,000,000 P 600.000 Common stock, P20 par 2,000,000 1,800,000 Paid in capital in excess of par Preferred 16,000 Common 4,350,000 3,750,000 Retained earnings 80,000 180,000 At what price per share are the shares of preferred stock issued in 2023?
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
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Problem 1. Dividends on Preference and Ordinary Shares The preference and ordinary shares outstanding of ABC Company on December 31, 2020 follows: 8% Preference shares, P10 par, cumulative, participating, 40,000 shares authorized, 10,000 shares issued and outstanding P100,000 Ordinary Shares, P2 par, 10,000,000 shares authorized, 250,000 shares issued and outstanding 500,000 Total Preference and Ordinary Shares P 600,000 Required: Calculate the amount of dividends received by preference and ordinary shareholders, respectively, under each of the following assumptions: 1. Preference dividends for 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P56,000. 2. No dividends are in arrears. On December 31, 2020, ABC declared a total dividend of P66,000. 3. Preference dividends for 2018 and 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P88,000.
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