Texas Inc. has 8,000 shares of 6%, $125 par value cumulative preferred stock and 97,000 shares of $1 par value common stockoutstanding at December 31. What is the annual dividend on the preferred stock?Oa. $60.00 per shareOb. $0.01 per shareOc. $5,820 in totalOd. $60,000 in total

Cumulative Preferred Stock :— It is a type of preferred stock in which any arrear of previous…

Answered: Texas Inc. has 8,000 shares of 6%, $125…

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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Prestige Investments had the following preferred stock outstanding at the end of a recent year: $25 par, 10% 6,000 shares $42 par, 8%, cumulative 11,000 shares $50 par, 12%, cumulative, convertible 2,000 shares $80 par, 11%, nonparticipating 15,000 shares Required: 1. Determine the amount of annual dividends on each issue of preferred stock and the total annual dividend on all four issue Issue 1 ($25 par, 10%) of preferred stock Issue 2 ($42 par, 8%, cumulative) of preferred stock Issue 3 ($50 par, 12%, cumulative, convertible) of preferred stock Issue 4 ($80 par, 11%, nonparticipating) of preferred stock Total annual dividend 2. Calculate what the amount of dividends in arrears would be if the dividends were omitted for 1 year.
Selected data for Adams Company for Year 3 follows: Earnings (net income) $ 184,000 Preferred stock (13,000 shares at $50 par, 6%) $ 650,000 Common stock (44,000 shares no par, market value $47) 517,000 Retained earnings 570,500 1,737,500 Less: Treasury stock Preferred (1,600 shares) $ 52,000 Common (1,600 shares) 27,000 79,000 Total stockholders' equity $ 1,658,500 Required a. Calculate the following ratios for Adams Company. Note: Round intermediate calculations and final answers to 2 decimal places. Earning per share price earning ratio return on equity
Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $1 par Common Shares. The equity section shows: Common stock, $1 par value, 1,000,000 shares authorized and shares issued ..$470,000 Paid in capital in excess of par value...... At what average price was the common shares issued? Respond rounded to TWO DECIMALS, without a dollar sign and without commas. Your Answer: Answer $238,000
Windborn Company has 30,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $135,000 20Y2 72,000 20Y3 270,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 $ $ 20Y2 $ $ 20Y3
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Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $60,000 20Y2 24,000 20Y3 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 fill in the blank fill in the blank 20Y2 fill in the blank fill in the blank 20Y3 fill in the blank fill in the blank
Miriah Inc. has 6,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2012. What is the annual dividend on the preferred stock?Select one:a. $0.50 per shareb. $30,000 in totalc. $300 in totald. $50 per share
Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company has preferred stock. The company's basic earnings per share is: Multiple Choice $44.00. $26.67 $1.59. $1.71. $1.65.
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A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $25. What is the debit to Retained Earnings for the value of the stock dividend? O $64,000 O $320,000 O $1,600,000 O $40,000,000 79°F Rair
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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