Tamarisk Inc. began operations in January 2020 and had the following reported net income or loss for each of its 5 years of operations: 2020 $220,000 loss 2021 $145,000 loss 2022 $146,000 loss 2023 $422,000 income 2024 $1,655,000 income At December 31, 2024, Tamarisk capital accounts were as follows: Common stock, par value $15 per share; authorized 200,000 shares issued and outstanding 50,000 shares                                                                $ 750,000 5% fully participating and cumulative preferred stock, par value $150 per share; authorized, issued and outstanding 10,000 shares                                              $1,500,000 Tamarisk has never paid a cash or stock dividend. There has been no change in the capital accounts since Tamarisk began operations. Question Assume Tamarisk Inc. decides to pay its entire retained earnings balance in a 2024 cash dividend. Prepare computations showing the amount that will be paid to the preferred and common shareholders

Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period 2024–2026. At December 31, 2023, the corporation’s accounts included:   ($ in thousands) Common stock, 113 million shares at $1 par $ 113,000 Paid-in capital—excess of par 678,000 Retained earnings 920,000 November 1, 2024, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.9 million, but were purchased two years previously for $2.5 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. On July 12,…

Loving Company provided the following information on December 31 , 2020 : Share premium - 9,000,000 Accounts payable - 1,000,000 Sales - 10, 000, 000 Treasury shares - 250,000 Preference share - 1, 750, 000 Ordinary share - 400,000 Total costs and expenses ses - 7, 800, 000 Retained earnings , January 1 - 1, 000, 000. The total shareholders ' equity on December 31, 2020 is   a. 14,100,000 b. 13,400,000 c. 11,900,000 d. 11,200,000

On January 1, 2020, Kingbird Corporation had $2,090,000 of $10 par value common stock outstanding that was issued at par and retained earnings of $1,180,000. The company issued 220,000 shares of common stock at $12 per share on July 1. On December 15, the board of directors declared a 15% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Kingbird Corporation stock was $15 per share on December 15 and $16 per share on December 31. Net income for 2020 was $515,000. (a1) Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation July 1 Cash Dec. 15 く…