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Pavel [41]
3 years ago
15

Ultimate Sportswear has $150,000 of 8% non-cumulative, non-participating, preferred stock outstanding. Ultimate Sportswear also

has $550,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $35,000. This dividend should be distributed as follows:
a. $8,750 preferred: $26,250 common.
b. $0 preferred: $35,000 common.
c. $12.000 preferred: $23.000 common.
d. $19.000 preferred: $16.000 common
e. $17,500 preferred; $17,500 соmmоn.
Business
1 answer:
Natali [406]3 years ago
4 0

Answer:

c. $12,000 preferred: $23,000 common

Explanation:

Calculation of how the Dividend should be distributed

First step is to calculate for preferred stock outstanding

Preferred stock outstanding=$150,000 * 8% non-cumulative

Preferred stock outstanding=$12,000

Second step is to calculate for common stock outstanding

Using this formula

Common stock outstanding = Cash Dividend-Preferred stock outstanding

Let plug in the formula

Common stock outstanding=$35,000-$12,000

Common stock outstanding=$23,000

Therefore Preferred stock outstanding will be $12,000 while Common stock outstanding will be $23,000

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Answer:

The cost of goods available for sale is $345,000

Explanation:

Beginning finished goods inventory   $25,000

Cost of Goods manufactured           $320,000

Cost of Goods available for sale,

             =  Beginning finished goods inventory + Cost of Goods manufactured

             = $25,000 + $320,000

            = $345,000

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2 years ago
In the past, the policy-making relationship between states and the federal government was called ______, since there was clear s
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In the past, the policy-making relationship between states and the federal government was called Dual federalism, since there was a clear separation of policy responsibility between the two levels.

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Even the House and Senate are examples of dual federalism. Both houses may be involved in approving federal laws that affect different states and require state involvement, but issues can only be passed through the senator's desk or state senators. representative.

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1 year ago
When the Central Bank lowers the bank rate, borrowing from the central bank becomes cheaper and commercial banks borrow more fro
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Answer:

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Explanation:

= U.S. exports increase, shifting U.S. aggregate demand to the right

= U.S. exports increase, shifting U.S. aggregate demand to the right

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For each activity, select the impact on the accounting equation. After doing all transactions, ensure that the accounting equati
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Answer:

<u>                                      Assets       =         Liabilities     +       Equity             </u>

1)                                  15,000                          0                       15,000

2)                                  9,000                      9,000                      0

3)                                   1,200                        1,200                     0

4)                                  2,400                        2,400                     0

5)                                 (12,000)                         0                         0

                                     12,000                         0                         0

6)                                   3,000                           0                      3,000    

7)                                   (4,000)                      (4,000)                   0

8)                                   (2,400)                      (2,400)                   0

9)                                        0                           (1,200)                  1,200

10)                                  (1,000)                            0                     (1,000)

TOTALS                       23,200                       5,000                  18,200

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Answer:

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Physical unit method :

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Then ;

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Weighted average method :

JP_Flo /H_ WF__WFW_W%__pro__JC__Alloc

Tullip_10 __ 2 __ 20 _ 20% _0.20 _ 30 __ 6

Lilly_ 20 ___ 1 __ 20 _ 20% _0.20 _ 30 __ 6

Daisy_20 __ 3__ 60 _ 60% _0.60 _ 30 __ 18

Allocation = joint cost * proportion

6 0
2 years ago
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