You purchased 3,600 common shares of Cullumber Transportation Inc. and you are about to receive your share of Cullumber's totalexpected dividend of $1,375,200. Along with 360,000 common shares outstanding the company also has 54,000 issued andoutstanding, $7.00 dividend, cumulative Class A preferred shares and 39,600 issued and outstanding, $2.00 dividend non-cumulativeClass B preferred shares. Dividends on the Class A preferred shares are one year in arrears.(a)What is the amount of dividend you would expect to receive for the 3,600 common shares you own of Cullumber TransportationInc.? (Round common dividends per share to 2 decimal places, e.g. 5.25 and final answer to O decimal places, e.g. 125.)Dividend on 3,600 common shares

Lets understand the basics. There are two type of shareholders are there which are, (1) Common stock…

Answered: You purchased 3,600 common shares of…

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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You purchased 4,300 common shares of Sunland Transportation Inc. and you are about to receive your share of Sunland's total expected dividend of $1,656,100. Along with 430,000 common shares outstanding the company also has 64,500 issued and outstanding $7.00 dividend, cumulative Class A preferred shares and 43,300 issued and outstanding, $2.00 dividend non-cumulative Class B preferred shares. Dividends on the Class A preferred shares are one year in arrears What is the amount of dividend you would expect to receive for the 4,300 common shares you own of Sunland Transportation Inc.? (Round common dividends per share to 2 decimal places, e.g. 5.25 and final answer to O decimal places, eg. 125) Dividend on 4,300 common shares $__________
AAA Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: For each of the following independent cases below, compute the total dividends to be received by each class ofstock. 1. The preference share is non-cumulative and non-participating2. The preference share is cumulative and non-participating with one-year dividends in arrears3. The preference share is non-cumulative and participating4. The preference share is cumulative and participating with no dividends in arrears5. The preference share is cumulative and participating with three years dividends in arrears
The outstanding share capital of Sheng Inc. includes 45,000 shares of $9.60 cumulative preferred and 80,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Year 2021 2022 2023 2024 Total Dividends Declared Preferred Common $ e 460,000 1,028,000 460,000 Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each clas over the four years. 2021 2022 otal Dividends 2023 2024 Total
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: For each of the following independent cases below, compute the total dividends to be received by each dass of stock. 1. The preference share is non-cumulative and non-participating 2. The preference share is cumulatve and non-participating with one-year dividends in arrears 3. The preference share is non-cumulative and participating 4. The preference share is cumulative and participating with no dividends in arrears 5. The preference share is cumulative and participating with three years dividends in arrears
Bay Company holds 60,000 of Fay Company's 200,000 outstanding shares and 8,000 of Hay Company's 400,000 outstanding shares. During the year, Fay declared and paid cash dividends of P10 per share. In the first quarter of the year, Hay declared and distributed a 10% share dividend. Hay also declared and paid its regular cash dividends to its shareholders amounting to P2.50 per share. What amount should be reported as dividend revenue for the current year? | as
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: Compute the total dividends to be received by each class ofstock. 1. The preference share is cumulative and participating with three years dividends in arrears
The outstanding share capital of Martinez Corporation consists of 2,500 shares of preferred and 7,100 common shares for which $276,900 was received. The preferred shares carry a dividend of $6 per share and have a $100 stated value. Assuming that the company has retained earnings of $80,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 years preceding the current year, state how much each class of shares should receive if the preferred shares are non-cumulative and non-participating. Dividends Preferred eTextbook and Media Dividends $ Preferred Assuming that the company has retained earnings of $80,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 years preceding the current year, state how much each class of shares should receive if the preferred shares are cumulative and non-participating. $ eTextbook and Media (b) Preferred Dividends $ Common eTextbook and Media $ Common $…
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: For each of the following independent cases below, compute the total dividends to be received by each class of stock. 2. The preference share is cumulative and non-participating with one-year dividends in arrears
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: For each of the following independent cases below, compute the total dividends to be received by each class of stock. 1. The preference share is non-cumulative and non-participating 2. The preference share is cumulative and non-participating with one-year dividends in arrears 3. The preference share is non-cumulative and participating 4. The preference share is cumulative and participating with no dividends in arrears 5. The preference share is cumulative and participating with three years dividends in arrears
Tasha company had the following ordinary shares outstanding during the current year: 1/1, ordinary shares outstanding, 450,000; 2/1, issued a 10% share dividend, 45,000; 3/1, issued ordinary shares in a "purchase" combination, 135,000; 7/1, issued ordinary shares for cash, 120,000; 12/31 ordinary shares outstanding, 750,000. What is the weighted average number of shares outstanding?
The outstanding share capital of Bramble Corporation consists of 3,245 preferred shares and 5,900 common shares for which $265,500 was received. The preferred shares carry a dividend of $7 per share and have a $100 stated value. Assuming that the company has retained earnings of $103,610 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of shares should receive if the preferred shares are cumulative and participating. (Round answers to O decimal places, e.g. 5,275.) Dividends $ Preferred Common $ $ Total
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000. Required: For each of the following independent cases below, compute the total dividends to be received by each class of stock. 3. The preference share is non-cumulative and participating

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