On November 23, 2023, the board of directors of Walker Bros Transportation Company voted to distribute $4,360,000 to the firm's stockholdIf the firm has issued 75,000 shares of 4% preferred stock with a par value of $50 and 2.280,000 shares of common stock outstanding, calc(Round all answers to the nearest cent.)1. Dividend per share of preferred stock:2. Dividend per share of common stock:SASOX

Dividend per share of preferred stock is calculated by dividing total preferred stock dividend by…

Answered: On November 23, 2023, the board of…

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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At December 31, 2019 and 2018, New Corporation had outstanding 4,000 shares of P 100 par 12% cumulative, fully participating participating Preference share capital and 20,000 shares of P10 par value Ordinary Share capital. At December 31, 2018, dividends in arrears on the Preference share were P 24,000. Cash dividends declared in 2019 totaled P 108,000. a. How much is the dividend per share for Ordinary Share Capital? b. how much is the dividend per share for the Preference Share Capital?
On September 6, 2020, the board of directors of Peterson Manufacturing voted to distribute $4,600,000 to the firm's stockholders.If the firm has issued 75,000 shares of 4% preferred stock with a par value of $10 and 1,870,000 shares of common stock outstanding, calculate the following. (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: $ 2. Dividend per share of common stock:
On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 24 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $750 million. . The income tax rate is 25%. • Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2019. • The options are exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. . During 2024, the market price of the common shares averaged $70 per share. • In 2020, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berclair's basic and diluted earnings per share for the year ended…
On December 31, 2023, Berclair Incorporated had 280 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. • On March 1, 2024, Berclair purchased 56 million shares of its common stock as treasury stock. ● ● Berclair issued a 5% common stock dividend on July 1, 2024. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $350 million. Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019. • The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible securities have been adjusted for any stock split or stock…
Marigold, Inc. has 10500 shares of 4%, $100 par value, noncumulative preferred stock and 105000 shares of $1 par value common stock outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $49300 dividend in 2019. In 2020, $111000 of dividends are declared and paid, What are the dividends received by the preferred and common shareholders in 2020? Preferred Common $42000 $69000 $0 $111000 $79500 $31500 $55500 $55500 96 5 6 7 d
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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
On December 31, 2023, Berclair Incorporated had 600 million shares of common stock and 17 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. • . On March 1, 2024, Berclair purchased 120 million shares of its common stock as treasury stock. Berclair issued a 6% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $850 million. Also outstanding at December 31 were 72 million incentive stock options granted to key executives on September 13, 2019. The options were exercisable as of September 13, 2023, for 72 million common shares at an exercise price of $60 per share. During 2024, the market price of the common shares averaged $90 per share. The options were exercised on September 1, 2024. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible securities…
4. On December 31, 2021, AVS Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $100 par, cumulative (non-convertible) preferred stock outstanding. On February 28, 2022, AVS purchased 24,000 shares of common stock on the open market as treasury stock paying $45 per share. AVS sold 6,000 of the treasury shares on September 30, 2022, for $47 per share. Net income for 2022 was $540,000 and the income tax rate is 40%. Five thousand 6% bonds were issued at par on January 1, 2022. Each $1,000 bond is convertible into 125 shares of common stock. None of the bonds had been converted by December 31, 2022. 1) Compute basic earnings per share (rounded to 2 decimal places) for AVS Company for 2022. Show your computations. 2) Compute diluted earnings per share (rounded to 2 decimal places) for AVS Company for 2022. Show your computations
AlMazoon Co has issued 60,000 ordinary shares (equity shares) of OMR 0.600 baisa each and 30,000 6% preference shares of OMR 1 each. Its profits after taxation for the year 2021 were OMR 22,100. The directors have decided to pay OMR 4,100 as ordinary dividend. You are required show: 1. The amount paid as dividends 2. The amount of retained profits 3. The balance of retained earning at the year end assuming the company had an opening balance of RO 30,000. 4. The dividend per share on ordinary shares.
On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 24,000 shares of common stock on the open market as treasury stock for $35 per share. Li-Wu sold 6,000 treasury shares on September 30, 2024, for $37 per share. Net income for 2024 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key executives the option to buy 50,000 common shares at $40. The market price of the common shares averaged $39 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Basic Diluted Earnings per share
Darling Corporation issued 200,000 shares of $20 par value, 5% preferred stock on January 1, 2019, for $4,500,000. In December 2021, Darling declared its first dividend of $800,000. Part 1 Part 2 If the preferred stock is not cumulative, how much of the $800,000 would be paid to common stockholders? Common Stock Dividends $

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