Sunland Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 106,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,500; 2020, $14,400; and 2021, $29,000. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2020 2021 Allocation to preferred 2$ 6,500 2$ 7,000 2$ 7,000 stock Allocation to common 2$ 2$ 7,400 2$ 22,000 stock

Sunland Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 106,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,500; 2020, $14,400; and 2021, $29,000. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2020 2021 Allocation to preferred 2$ 6,500 2$ 7,000 2$ 7,000 stock Allocation to common 2$ 2$ 7,400 2$ 22,000 stock

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Suppose a stock had an initial price of $50 per share, paid a dividend of $1.05 per share during the year, and had an ending share price of $37. Compute the percentage total return. Enter the answer in 4 decimals e.g. 0.1234.
Suppose a stock index contains the stock of 3 firms: A, B and C The stock prices for the three firms are $33 $48 and $27. respectively. The firms have 115 million, 69 million and 119 million shares outstanding, respectively. If the index is price-weighted, calculate its initial value. (round your answer to 2 decimal places)
7. Basic earnings per share will serve as a guide to investors as to the attractiveness of ordinary shares as an investment. TRUE FALSE 8. Book value per share is computed by dividing the net assets to the total number of shares outstanding. TRUE FALSE 9. Which of the following is entitled to dividends? Total outstanding liability Total authorized shares Total shares issued Total shares issued, net of treasury shares
Please answer this one
2. A certain company gave out P 25 dividend per share for its common stock. The market value of the stock is P 92. Determine the stock yield ratio.
Help me with all 4 please asap... Explain it ! Thank you
Po.26. Preferred stock is listed first on a balance sheet because of its dividend and liquidation preferences over common stock. O True O False
In each case in the following table,attached, how many dollars of preferred dividends per share must be paid to preferred stockholders before common stock dividends are paid?
How do I calculate preferred stock and common stock when: 1. preferred stock nonparticipating/cumulative 2. preferred stock participates up to 12% of its par value and is cumulative 3. preferred stock is fully participating and cumulative 4. preferred stock is nonparticipating and noncumulative?
14) Consider the following 2 tables in Database: Investor and Positions with respective columns. Investor InvestorID InvestorName Country *Assume there is a primary key on InvestorID Positions StockSymbol InvestorID ReportingDate Qty *Assume there is a primary key on StockSymbol, InvestorID, Reportingdate Positions means Stock holdings. Write a queries to a) Find all investors that have positions in more than one stocks on any reporting date. b) Output investors with their positions (they have ever had) and respective dates when they acquired those positions c) Investors that never had a position
are my answers correct? if yes help me understand how the computation of answers were arrived at Answer 3.2.1) Calculate the number of shares in issue =240000/30 =8000shares Answer 3.2.2) The dividend per share =60000/8000 = 7.5 per shares Answer 3.2.3) The new share price IN CASE OF DIVIDEND PAYMENT share price = (240000 - 60000)/8000 = 22.5 per share IN CASE OF SHARE REPURCHASE No of shares repurchased = 60000/30 = 2000 shares new number of shares = 8000 - 2000 = 6000 shares new net worth of the company = 240000-60000 = 180000 therefore new share price = 180000/ 6000 = 30 per share 2) Earnings per share (EPS) IN CASE OF DIVIDEND PAYMENT Since the number of shares are not reducing EPS will remain same at 3 per share IN CASE OF SHARE REPURCHASE EPS = (8000*3)/6000 = 4 per share 3)…