Zelienople Co. reported the following information at December 31, 2016: Preferred stock, $10 par, 5,000 shares authorized, cumulative $ 50,000 Common stock, $1 par, 500,000 shares authorized  200,000 Additional paid-in capital—Common  25,000 Retained earnings  75,000 Total contributed capital and retained earnings  $350,000 Less: Treasury stock (400 shares at cost) 5,000 Total stockholders' equity  $345,000 The number of shares of common stock issued is a. 5,000. b. 200,000. c. 500,000. d. 550,000.

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Luther Inc., has 4,000 shares of 5%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2018, and December 31, 2017. The board of directors declared and paid an $8,000 dividend in 2017. In 2018, $40,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2018? A. $28,000 B. $12,000 C. $20,000 D. $10,000

The shareholders’ equity of Proactive Solutions, Inc., included the following at December 31, 2016: Common stock, $1 par Paid-in capital—excess of par on common stock 7% cumulative convertible preferred stock, $100 par value Paid-in capital—excess of par on preferred stock Retained earnings Additional Information: • Proactive had 7 million shares of preferred stock authorized of which 2 million were outstanding. All 2 million shares outstanding were issued in 2010 for $112 a share. The preferred stock is convertible into common stock on a two-for-one basis until December 31, 2018, after which the preferred stock no longer is convertible. None of the preferred stock has been converted into common stock at December 31, 2016. There were no dividends in arrears. • Of the 13 million common shares authorized, there were 8 million shares outstanding at January 1, 2016. Proactive also sold 3 million shares at the beginning of September 2016 at a price of $52 a share. • The company has an…

The stockholders’ equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,950 shares authorized)   $297,000 Common Stock ($4 stated value, 321,000 shares authorized)   1,070,000 Paid-in Capital in Excess of Par Value—Preferred Stock   14,850 Paid-in Capital in Excess of Stated Value—Common Stock   513,600 Retained Earnings   686,500 Treasury Stock (4,950 common shares)   39,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1   Issued 4,950 shares of common stock for $29,700. Mar. 20   Purchased 1,400 additional shares of common treasury stock at $7 per share. Oct. 1   Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1   Paid the dividend declared on October 1. Dec. 1   Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31…

The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…

Dillion Company is authorized to issue 1,000,000 shares of $40 par value common stock. By November 15, 2016, the company had issued 50,000 shares at $50 per share. On November 15, 2016, the company declared a 30% stock dividend when the market price was $52 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend? A) $3,120,000 B) $ 600,000 C) $ 780,000 OD) $2,400,000

The stockholders’ equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,950 shares authorized)   $297,000 Common Stock ($4 stated value, 321,000 shares authorized)   1,070,000 Paid-in Capital in Excess of Par Value—Preferred Stock   14,850 Paid-in Capital in Excess of Stated Value—Common Stock   513,600 Retained Earnings   686,500 Treasury Stock (4,950 common shares)   39,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1   Issued 4,950 shares of common stock for $29,700. Mar. 20   Purchased 1,400 additional shares of common treasury stock at $7 per share. Oct. 1   Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1   Paid the dividend declared on October 1. Dec. 1   Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31…

The stockholders' equity section of Blue Spruce Corp, as of December 31, 2017 is as follows: 9% preferred stock, $ 100 par value, authorized 100,000 shares, outstanding 62,000 shares $ 6,200,000 Common stock, $ 1 par, authorized and issued 6,300,000 shares 6,300,000 Additional paid-in capital 78,400,000 Retained earnings 406,600,000 $ 497,500,000 Net income was $ 14,240,000 in 2017. This net income figure reflects a total effective tax rate of 35%. Included in the net income figure is a $5,000,000 (before tax) loss from an earthquake centered in a city where Blue Spruce has a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $ 558,000 were declared and paid in 2017. Blue Spruce Corp. declared and paid dividends of $ 3,030,000 to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Blue Spruce Corporation. (Round answers to 2 decimal places, e.g. 1.48.) Earnings Per Share Net Income / (Loss) %24

On January 1, 2022, Metro Inc. had the following account balances in its shareholders' equity accounts.   Common stock, $1 par, 250,000 shares issued 250,000 Additional paid-in capital, common 500,000 Additional paid-in capital, preferred 100,000 Preferred stock, $100 par, 10,000 shares issued 1,000,000 Retained earnings 2,000,000 Treasury stock, at cost, 5,000 common shares 25,000   During 2022, Metro Inc. had several transactions relating to common stock.   January 15: Declared a property dividend of 100,000 shares of Denver Company (book value $10 per share, fair value $9 per share). February 17: Distributed the property dividend. July 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend.   1) Prepare the journal entry (ies) for…