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ch4aika [34]
3 years ago
15

Written, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no-par 8% preferred stock with a state

d value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year.
Assuming that $126,000 will be distributed as a dividend in the current year, how much will the preferred stockholders receive?
Business
1 answer:
Vitek1552 [10]3 years ago
6 0

Answer:

$126,000

Explanation:

Given:

Total outstanding stocks = 600,000

Price per share of common stock = $2

Number of preferred stock = 120,000

Interest rate = 8%

Stock Value = $5

Outstanding year = 3

Total Amount of preferred stock = Principle × Rate × Time

or

Total Amount of preferred stock = ( 120,000 × $5 ) × 0.08 × 3 = $144,000

Since,

The preferred stock value is more than the amount distributed

Hence,

the total amount distributed i.e $126,000 will be received by the preferred stockholders

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The general journal is used to: a. post all accounting entries not posted in other individual journals. b. post all accounting e
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Answer: The general journal is used to post all accounting entries.

Explanation:

The general journal is the journal where all company transactions are recorded in. In other words, a general journal is the book of original entry where bookkeepers and accountants record business transactions according to the date the transactions take place.

It is the initial place where transactions are recorded, every page in the journal is divided into columns for dates, debit or credit records, serial numbers etc. Some companies keep specialized journals, such as sales journals or purchase journals, which records only a particular type of transactions. When a transaction has been recorded in the general journal, the amount is then posted to the appropriate accounts.

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3 years ago
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A horse was galloping at a speed of 50km/h for the first 12 minutes. For the next x minutes, the horse became fatigued, and its
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Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camer
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Answer:

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Explanation:

a)

2017 = Loss = 25000 * 8 * [0.42-0.50] = 16000

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b)

2017 = gain = 25000 * 8 * [0.48-0.42] = 12000

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4 0
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In an ethnographic study of black and white working-class men, Deirdre Royster (2003) found that the job market was
Rainbow [258]

In an ethnographic study of black and white working-class men, Deirdre Royster (2003) found that the job market was Not fair and not meritocratic

Explanation:

Deirdre Royster has put this popular wisdom to a test – revealing the subtleties and inequalities of a place of work in the Race and the Invisible Hand which favour the white person looking for jobs above the black one.

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3 years ago
the cost of goods manufactured for the year was $415,000. the unadjusted cost of goods sold for the year was
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Answer:

$403,000

Explanation:

Calculation for what The unadjusted Cost of Goods Sold for the year was:

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