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katen-ka-za [31]
3 years ago
8

On January 2, 2014, Sunland Corporation issued 31100 shares of 5% cumulative preferred stock at $100 par value. On December 31,

2017, Sunland Corporation declared and paid its first dividend. What dividends are the preferred stockholders entitled to receive in the current year before any distribution is made to common stockholders?
Business
1 answer:
Irina18 [472]3 years ago
5 0

Answer:

$622,000

Explanation:

Annual dividend = 31,100 × 5% × $100 = $155,500

Since it a cumulative preferred stock, it implies that dividend for each of the previous years when dividend were not paid by Sunland Corporation will be accumulated and paid together with the current one.

Since January 2, 2014 to December 31, 2017 is 4 years, that means dividend will be paid to cumulative preferred stock holders for 4 years as follows:

Preferred stockholders dividend for 4 years = $155,500 × 4 = $622,000

Therefore, preferred stockholders are entitled to receive $622,000 in the current year before any distribution is made to common stockholders.

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Multiple Choice Question Mahan Corporation expects total sales to increase by 20% over the next year. The corporation has no spa
AlekseyPX

Answer:

$48,000

Explanation:

The computation of the corporation debt is shown below:

Since the asset is increased by 20%

The present asset is $100,000

ANd, the increased assets is

= $100,000 + $100,000 × 0.20

= $100,000 + $20,000

= $120,000

Now the debt is

= $120,000 × 0.4

= $48,000

hence, the last option is correct

3 0
2 years ago
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MatroZZZ [7]

I believe your answer is A: Unearned Revenue.

Because, if a business has received cash, in advance of services performed, and credits a liability account, the adjusting entry needed, after the services are performed, will be debit Unearned Revenue and credit Cash.

5 0
3 years ago
Item 25 In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption
kifflom [539]

Answer:

market segment.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.

Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

In marketing, each market segment comprises of people (consumers) who are relatively similar to each other in terms of their consumption behavior and preference or choice with respect to goods and services.

3 0
2 years ago
Mischa wants to buy a home. She has looked at the housing market. Now she needs to find a__________ to become_______ for a mortg
Amiraneli [1.4K]

its lender then prequalified just took the test

3 0
3 years ago
Read 2 more answers
On June 2nd, SEAkayak had the following details for its common stock: 1,000,000 shares authorized, 400,000 shares issued, and 40
kompoz [17]

Answer:

The authorized common stock shares remain 1,000,000 shares.

Explanation:

The authorized shares are not affected by movements in the shares, like issue of shares, repurchase, and resale of treasury stock shares.  The authorized shares, therefore, represent the number of shares that the company is legally bound to issue without exceeding.  The implication is that the company is free to issue shares less than or equal to the authorized shares, but it may not issue more than the authorized until it obtains a new authorization.

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2 years ago
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