Requirement 1. Precious Metal declares cash dividends of $38,000 for 2024. How much of the dividends goes to preferred stockholders? How much goes to common stockholders? Precious Metal's dividend would be divided between preferred and common stockholders in this manner: Total Dividend Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders

Requirement 1. Precious Metal declares cash dividends of $38,000 for 2024. How much of the dividends goes to preferred stockholders? How much goes to common stockholders? Precious Metal's dividend would be divided between preferred and common stockholders in this manner: Total Dividend Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders

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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Journalizing issuance of stock—at par and at a premium Colorado Corporation has two classes of stock: common, $3 par value; and preferred $30 par value. Requirements Journalize Colorado’s issuance of 4,500 shares of common stock for $6 per share. Journalize Colorado’s issuance of 4,500 shares of preferred stock for a total of $135,000.
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Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (70,000 shares authorized, 35,000 shares issued) $3,500,000 Paid-In Capital in Excess of Par—Preferred Stock 420,000 Common Stock, $20 par (800,000 shares authorized, 270,000 shares issued) 5,400,000 Paid-In Capital in Excess of Par—Common Stock 700,000 Retained Earnings 21,242,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 80,000 shares of common stock at $26, receiving cash. Issued 18,000 shares of preferred 2% stock at $115. Purchased 48,000 shares of treasury common for $23 per share. Sold 24,000 shares of treasury common for $26 per share. Sold 16,000 shares of treasury common for $21 per share. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock.…
Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5…
Question: How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?
Stockholders’ equity: Capital stock: 7% cumulative preferred stock, $100 par value $ 15,000,000 Common stock, $5 par value, 5,000,000 shares authorized, 4,000,000 shares issued and outstanding 20,000,000 Additional paid-in capital: Common stock 44,000,000 Retained earnings 64,450,000 Total stockholders’ equity What is the total amount of the annual dividends to which preferred stockholders are entitled? What was the average issuance price per share of common stock? What is the amount of legal capital and the amount of total paid-in capital? What is the book value per share of common stock, assuming no dividends in arrears? Is it possible to determine the fair market value per share of common stock from the stockholders’ equity section? Explain.
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Texas Inc. has 8,000 shares of 6%, $125 par value cumulative preferred stock and 97,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Oa. $60.00 per share Ob. $0.01 per share Oc. $5,820 in total Od. $60,000 in total