i need the answer quickly Cup Coffee and Pastries (CCP) was organized on Jan 1, 2023. It is authorized to issue anunlimited number of common shares and 120,000 preferred shares with $5 dividend; non-paricipating and cumulative. No share transactions took place in 2026. In 2026, the companyhas 75,000 common shares and 40,000 preferred shares outstanding.The company delareddividend every year except 2025. No dividend was declared in 2025. On Apr 8, 2026 thecompany declared cash dividend of 868, 750 to be paid out on Jun 16, 2026 to shareholderson record on the same date.Retained Earnings on Dec 31, 2025 (closing date) was 912, 000.Shaded Space for Answers Requirement - 1 Determine how much dividend will be received byEACH preferred and common shareholder on Jun 16, 2026. Preferred Shareholder CommonShareholderRequirement - 2 New Scenario: If the preferred shares are non- cumulative, howmuch dividend will be received by EACH preferred and common shareholder on Jun16, 2026. Preferred ShareholderCommon Shareholder

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Description: i need the answer quickly Cup Coffee and Pastries (CCP) was organized on Jan 1, 2023. It is authorized to issue anunlimited number of common shares and 120,000 preferred shares with $5 dividend; non-paricipating and cumulative. No share transactions

Dividend:The dividends refer to the amount which is paid to the shareholders whether it is equity or…

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Shaded Space for Answers Requirement - 1 Determine how much dividend will be received by EACH preferred and common shareholder on Jun 16, 2026. Preferred Shareholder Common ShareholderRequirement - 2 New Scenario: If the preferred shares are non-cumulative, how much dividend will be received by EACH preferred and common shareholder on Jun 16, 2026. Preferred ShareholderCommon Shareholder

Shaded Space for Answers Requirement - 1 Determine how much dividend will be received by EACH preferred and common shareholder on Jun 16, 2026. Preferred Shareholder Common ShareholderRequirement - 2 New Scenario: If the preferred shares are non-cumulative, how much dividend will be received by EACH preferred and common shareholder on Jun 16, 2026. Preferred ShareholderCommon Shareholder

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.
Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares of 10%, 100 par, nonconvertible preferred stock outstanding, on which the years dividends had been paid. At the beginning of 2019, the company had 7,000 shares of common stock outstanding. On April 2, 2019, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2019. Common dividends of 17,000 had been paid during 2019. At the end of 2019, the market price per share of common stock was 17.50. Required: 1. Compute Mononas basic earnings per share for 2019. 2. Compute the price/earnings ratio for 2019.
Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8% preferred stock outstanding on January 1, 2011. Each share of preferred stock is convertible into four shares of common stock. The stock has not been converted. During the year, Ponce Towers issued additional shares of common stock as follows: For 2011, Ponce Towers, Inc., had income from continuing operations of 545,000 and a 72,000 loss from discontinued operations (net of tax). As vice president of finance for the firm, you have been asked to calculate earnings per share for 2011. The worksheet EPS has been provided to assist you.
Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8% preferred stock outstanding on January 1, 2011. Each share of preferred stock is convertible into four shares of common stock. The stock has not been converted. During the year, Ponce Towers issued additional shares of common stock as follows: For 2011, Ponce Towers, Inc., had income from continuing operations of 545,000 and a 72,000 loss from discontinued operations (net of tax). Open the file EPS from the website for this book at cengagebrain.com. Enter all input items (AF) in the appropriate cells in the Data Section. Enter all formulas in the appropriate cells in the Answer Section. Enter your name in cell A1. Save the completed file as EPS2. Print the worksheet when done. Also print your formulas. Check figure: Basic earnings per share from continuing operations (cell D29), 5.94.
Comprehensive Young Corporation has been operating successfully for several years. It is authorized to issue 24,000 shares of no-par common stock and 6,000 shares of 8%, 100 par preferred stock. The Contributed Capital section of its January 1, 2019, balance sheet is as follows: Part a. A shareholder has raised the following questions: 1. What is the legal capital of the corporation? 2. At what average price per share has the preferred stock been issued? 3. How many shares of common stock have been issued (the common stock has been issued at an average price of 23 per share)? Part b. The company engaged in the following transactions in 2019: Required: 1. Answer the questions in Part a. 2. Prepare journal entries to record the transactions in Part b. 3. Prepare the Contributed Capital section of Youngs December 31, 2016, balance sheet.
Bonita Corporation began its latest fiscal year on January 1, 2023, with 490,000 common shares outstanding. During the year, the following events occurred: ● ● ● . ● ● On February 1, Bonita sold 14,800 additional common shares. The company declared and issued a 25% stock dividend on March 1. On June 1, Bonita repurchased and cancelled 3,700 common shares. An additional 4,900 common shares were issued on July 1. On September 1, Bonita declared and issued a three-for-one stock split. On December 1, Bonita issued an additional 14,100 shares. Following the fiscal year, Bonita declared and issued a two-for-one stock split on February 1, 2024. The company issued its 2023 financial statements on April 30, 2024. Calculate the weighted average number of common shares that Bonita should use for calculating its EPS numbers for 2023. Weighted average number of common shares
Best Windows Ltd started operations on January 1, 2022. On this day, Best Windows issued common shares for 50,000. On April 30, Best Windows repurchased 10,000 of its common shares. On December 20, the company issued common shares for 70,000. Calculate the balance of common shares at the end of 2022.
Wildhorse Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,770,000 shares of $10 par common stock. At no time has Wildhorse issued any potentially dilutive securities. Listed below is a summary of Wildhorse’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2,050,000 2. Shares issued as a result of a 10% stock dividend on September 30, 2019 205,000 3. Shares issued for cash on March 31, 2020 1,910,000 Number of common shares issued and outstanding at December 31, 2020 4,165,000 4. A 2-for-1 stock split of Wildhorse’s common stock took place on March 31, 2021 Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. shares eTextbook and Media Compute the weighted-average…
Sandhill Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,490,000 shares of $10 par common stock. At no time has Sandhill issued any potentially dilutive securities. Listed below is a summary of Sandhill's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2,170,000 2. Shares issued as a result of a 10% stock dividend on September 30, 2019 217,000 3. Shares issued for cash on March 31, 2020 1.850,000 Number of common shares issued and outstanding at December 31, 2020 4,237,000 4. A 2-for-1 stock split of Sandhill's common stock took place on March 31, 2021
Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $10 par common stock. At no time has Newton issued any potentially dilutive securities. Listed below is a summary of Newton's common stock activities. 1. 1Number of common shares issued and outstanding at December 31, 2018 2,000,000 2. 1Shares issued as a result of a 10% stock dividend on September 30, 2019 200,000 3. 1Shares issued for cash on March 31, 2020 2,000,000 1Number of common shares issued and outstanding at December 31, 2020 4,200,000 4. 1A 2-for-1 stock split of Newton's common stock took place on March 31, 2021 Instructions a. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. b. Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income…
Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par commoi stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common shares issued and outstanding at December 31, 2020 4,228,800 A 2-for-1 stock split of Nash's common stock took place on March 31, 2021 4. (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. shares