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Swifty Corporation has the following shareholders' equity on September 30, 2024: Shareholders' equity Share capital $10 preferred shares, cumulative 10,000 shares authorized, 4500 shares issued Common shares, 200,000 shares authorized, 10000 shares issued Total share capital Retained earnings Total shareholders' equity $4500000 200000 4700000 563000 $5263000

Swifty Corporation has the following shareholders' equity on September 30, 2024: Shareholders' equity Share capital $10 preferred shares, cumulative 10,000 shares authorized, 4500 shares issued Common shares, 200,000 shares authorized, 10000 shares issued Total share capital Retained earnings Total shareholders' equity $4500000 200000 4700000 563000 $5263000

FINANCIAL ACCOUNTING
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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Swifty Corporation has the following shareholders' equity on September 30, 2024: Shareholders' equity Share capital $10 preferred shares, cumulative 10,000 shares authorized, 4500 shares issued Common shares, 200,000 shares authorized, 10000 shares issued Total share capital Retained earnings Total shareholders' equity $4500000 200000 4700000 563000 $5263000
Transcribed Image Text:Swifty Corporation has the following shareholders' equity on September 30, 2024: Shareholders' equity Share capital $10 preferred shares, cumulative 10,000 shares authorized, 4500 shares issued Common shares, 200,000 shares authorized, 10000 shares issued Total share capital Retained earnings Total shareholders' equity $4500000 200000 4700000 563000 $5263000
Retained earnings Total shareholders' equity On September 15, 2024, Swifty Corporation declared a $167000 dividend to be paid on October 15 to shareholders of record on September 30, Assuming that the preferred dividends were last paid in 2022, the amount of dividends per common share for 2024 would be O $17. O $10. 563000 $5263000 $7.70. O $0.10.
Transcribed Image Text:Retained earnings Total shareholders' equity On September 15, 2024, Swifty Corporation declared a $167000 dividend to be paid on October 15 to shareholders of record on September 30, Assuming that the preferred dividends were last paid in 2022, the amount of dividends per common share for 2024 would be O $17. O $10. 563000 $5263000 $7.70. O $0.10.
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