FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On January 2, 2014, Sunland Corporation issued 29700 shares of 5% cumulative preferred stock at $100 par value. On December 31, 2017, Sunland Corporation declared and paid its first dividend. What dividends are the preferred stockholders entitled to receive in the current year before any distribution is made to common stockholders?
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- Ayayai Corp. has 4,200 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017. At December 31, 2017, the company declared a $128,000 cash dividend.Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios.1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years. The dividend paid to preferred stockholders $ The dividend paid to common stockholders $ 2. The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders $ The dividend paid to common stockholders $ 3. The preferred stock is cumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders $ The dividend paid to common stockholders $arrow_forwarddave inc. declared 40% stock dividend on its 120,000 outstanding common shares (with a par value of $5 per share) on september 10 2021. the stock was trading for $35 at the declaration date. the stock were distributed in the form of dividends on october 20 2021. prepare journal entries on september 10 and october 20. what is the equivalent stock split of this 40% stock dividend?arrow_forwardOn January 1, 2026, Sheridan Corp. had 491,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 March 1 May 1 June 1 October 1 (a) Issued 116,000 shares Issued a 10% stock dividend Acquired 96,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 59,000 shares of treasury stock Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstandingarrow_forward
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