Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 13, Problem 13QS
To determine
Determine the amount of dividends paid each year to non-cumulative preferred and common stock.
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[The following information applies to the questions displayed below.]
Green Planet Corporation has 5,800 shares of noncumulative 12% preferred stock with a $2 par value
and 22,900 shares of common stock with a $0.01 par value. During its first two years of operation,
Green Planet declared and paid the following total cash dividends.
Year 1 total cash dividends
Year 2 total cash dividends
Year 1
Year 2
Compute the dividends paid each year to each of the two classes of stockholders: preferred and common.
Noncumulative
Preferred
$ 620
2,290
Common
[The following information applies to the questions displayed below.]
Green Planet Corporation has 5,800 shares of noncumulative 12% preferred stock with a $2 par value
and 22,900 shares of common stock with a $0.01 par value. During its first two years of operation,
Green Planet declared and paid the following total cash dividends.
Year 1 total cash dividends
Year 2 total cash dividends
Year 1
Year 2
Compute the dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is
cumulative.
Cumulative
Preferred
$ 620
2,290
Common
Pronghorn Corp. has 6,000 preferred shares outstanding ($3.00 dividend), which were issued for $180,000, and 50,000 common shares, which were issued for
$520,000.
The following schedule shows the amount of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b).
Express your answers in per-share amounts and using the format that is shown. (Round intermediate calculations to 5 decimal places, e.g. 0.15647 and final answers to 2
decimal places, e.g. 52.75. Do not leave any answer field blank. Enter O for amounts.)
(a)
Preferred, non-cumulative,
and non-participating
Year
Paid-out
Preferred
2020
$15,900 $
2.65
2021
$32,000 $
3
2022
$80,000 $
3
2023 $146,000
$
3
+A
+A
+A
Common
Assumptions
0
(b)
Preferred, cumulative,
and fully participating
Preferred
Common
SA
$
2.65
0.28
$
3.35
1.24
+A
$
2.56
+A
SA
5.55
$
+A
19.55
SA
$
0.24
0.93
0.57
Chapter 13 Solutions
Principles of Financial Accounting.
Ch. 13 - A corporation issues 6,000 shares of 5 par value...Ch. 13 - A company reports net income of 75,000. Its...Ch. 13 - A company has 5,000 shares of 100 par preferred...Ch. 13 - A company paid cash dividends of 0.81 per share....Ch. 13 - Prob. 5MCQCh. 13 - What are organization expenses? Provide examples.Ch. 13 - How are organization expenses reported?Ch. 13 - Prob. 3DQCh. 13 - What is the difference between authorized shares...Ch. 13 - Prob. 5DQ
Ch. 13 - List the general rights of common stockholders.Ch. 13 - What is the difference between the market value...Ch. 13 - Identify and explain the importance of the three...Ch. 13 - Prob. 9DQCh. 13 - How does declaring a stock dividend affect the...Ch. 13 - What is the difference between a stock dividend...Ch. 13 - Prob. 12DQCh. 13 - Prob. 13DQCh. 13 - How is book value per share computed for a...Ch. 13 - Prob. 15DQCh. 13 - Prob. 16DQCh. 13 - Prob. 17DQCh. 13 - Prob. 1QSCh. 13 - Issuance of common stock Prepare the journal entry...Ch. 13 - Issuance of par and stated value common stock...Ch. 13 - Issuance of no-par common stock Prepare the...Ch. 13 - Prob. 5QSCh. 13 - Accounting for cash dividends Prepare journal...Ch. 13 - Prob. 7QSCh. 13 - Accounting for small stock dividend The...Ch. 13 - Prob. 9QSCh. 13 - Accounting for dividends For each of the following...Ch. 13 - Preferred stock issuance and dividends 1. Prepare...Ch. 13 - Dividend allocation between classes of...Ch. 13 - Prob. 13QSCh. 13 - Prob. 14QSCh. 13 - Purchase and sale of treasury stock On May 3,...Ch. 13 - Prob. 16QSCh. 13 - Prob. 17QSCh. 13 - For each situation, identify whether it is treated...Ch. 13 - Prob. 19QSCh. 13 - Basic earnings per share Murray Company reports...Ch. 13 - Epic Company earned net income of 900,000 this...Ch. 13 - Price-earnings ratio Compute Topp Companys...Ch. 13 - Prob. 23QSCh. 13 - Book value per common share The stockholders...Ch. 13 - Prob. 1ECh. 13 - Prob. 2ECh. 13 - Accounting for par, stated, and no-par stock...Ch. 13 - Recording stock issuances Prepare journal entries...Ch. 13 - Stock issuance for noncash assets Sudoku Company...Ch. 13 - On June 30, Sharper Corporations stockholders...Ch. 13 - Prob. 7ECh. 13 - The stockholders equity section of TVX Company on...Ch. 13 - Prob. 9ECh. 13 - Yorks outstanding stock consists of 80,000 shares...Ch. 13 - Prob. 11ECh. 13 - Prob. 12ECh. 13 - In Draco Corporations first year of business, the...Ch. 13 - Prob. 14ECh. 13 - Prob. 15ECh. 13 - Prob. 16ECh. 13 - Prob. 17ECh. 13 - Price-earnings ratio computation and...Ch. 13 - Prob. 19ECh. 13 - The equity section of Cyril Corporations balance...Ch. 13 - Prob. 21ECh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Prob. 2APCh. 13 - Prob. 3APCh. 13 - The equity sections for Atticus Group at the...Ch. 13 - Prob. 5APCh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Balthus Corp. reports the following components of...Ch. 13 - Prob. 3BPCh. 13 - Prob. 4BPCh. 13 - Prob. 5BPCh. 13 - Santana Rey created Business Solutions on October...Ch. 13 - Prob. 1AACh. 13 - Use the following comparative figures for Apple...Ch. 13 - Prob. 3AACh. 13 - Prob. 1BTNCh. 13 - Access the March 1, 2017, fi ling of the 2016...Ch. 13 - Prob. 5BTN
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