The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current wear: Common stock, $12 par value, 35,000 shares outstanding Preferred stock, 9 percent, $10 par value, 10,000 shares outstanding Retained earnings, $229,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $77,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. o. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under he two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share Preferred stock Common stock

Colgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $25; outstanding, 10,500 shares) Common shares (outstanding, 35,000 shares) Retained earnings $ 262,500 625,000 306,000 The board of directors is considering the distribution of a cash dividend to both groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $52,000. Case B: The preferred shares are cumulative; the total amount of dividends is $65,000. Case C: Same as case B, except the amount is $98,500. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. (Round "Per share" to 2 decimal places.) Answer is complete and correct. Preferred Sharee Common Shares Case A: Total S 10,500 S 41,500 Per share $ 1.00 $ 1.19 Case B:…

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On January 1, Oriole Corporation had 61,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Issued 11,250 additional shares of common stock for $11 per share. Declared a cash dividend of $1.90 per share to stockholders of record on June 30. Paid the $1.90 cash dividend. Issued 5,000 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. Apr. 1 June 15 July 10 Dec. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to O decimal places, e.g.…

The following information was extracted from the records of Cascade Company at the end of the fiscal yea were completed: Common stock ($0.01 par value; 230,000 shares authorized, 55,500 shares issued, 53,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. Note: Do not round your intermediate calculations. Round Dividend yield ratio to 2 decimal places. Dividend yield ratio Number of shares % $ 555 459,000 23,500 315,000 (16;500) $ 96,500 $ 10 >

The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $11 par value, 49,000 shares outstanding Preferred stock, 8 percent, $9 par value, 9,000 shares outstanding Retained earnings, $231,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $71,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share $ Preferred stock Common stock 35,280 $ 64,520

Calgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $25; outstanding. 10,000 shares) $250,000 Common shares (outstanding. 30,000 shares) 600,000 Retained earnings 281,000 The board of directors is considering the distribution of a cash dividend to the two groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $51,000. Case B: The preferred shares are cumulative; the total amount of dividends is $60,000. Case C: Same as case B, except the amount is $96,000. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. Show computations. 2. Assume that the company issued a 10 percent common stock dividend on the outstanding common shares when the market value per share was $24.…

When Crossett Corporation was organized in January, Year 1, it immediately issued 5,500 shares of $51 par, 7 percent, cumulative preferred stock and 10,000 shares of $10 par common stock. Its earnings history is as follows: Year 1, net loss of $15,400; Year 2, net income of $125,000; Year 3, net income of $99,900. The corporation did not pay a dividend in Year 1. Required a. How much is the dividend arrearage as of January 1, Year 2? Dividend arrearage b. Assume that the board of directors declares a $52,270 cash dividend at the end of Year 2 (remember that the Year 1 and Year 2 preferred dividends are due). How will the dividend be divided between the preferred and common stockholders? Total amount distributed to preferred shares Total amount distributed to common shares

On June 30, the board of directors of Dive Inn, Inc., declared a cash dividend of $0.20 per share on its $2 par value, 100,000 common shares outstanding. The date of record is the close of business on July 7, payable July 31. The entry to record the declaration of the dividend on June 30 includes ______. (Select all that apply.)     debit Dividends $200,000     There is no entry made on June 30.     debit Dividends Payable $20,000     credit Dividends Payable $2,000     credit Cash $200,000     debit Dividends $20,000     credit Dividends Payable $20,000     credit Cash $20,000

Calgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $30; outstanding, 11,500 shares) Common shares (outstanding, 45,000 shares) Retained earnings The board of directors is considering the distribution of a cash dividend to the two groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $54,000. Case B: The preferred shares are cumulative; the total amount of dividends is $75,000. Case C: Same as case B, except the amount is $103,500. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. (Round "Per share" to 2 decimal places.) Case A: Total Per share Case B: Total Per share $ 345,000 675,000 170,000 Case C: Total Per share Preferred Shares Common Shares