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klemol [59]
3 years ago
8

Colson Inc. declared a $320,000 cash dividend. It currently has 12,000 shares of 7%, $100 par value cumulative preferred stock o

utstanding. It is one year in arrears on its preferred stock. How much cash will Colson distribute to the common stockholders
Business
1 answer:
Alex787 [66]3 years ago
4 0

Answer:

The divided for common stockholders is $152000

Explanation:

The preferred stock is cumulative whch means any arrears in preference dividend will be paid whenever the dividend is declared.

The amount of yearly preference dividends is = 12000 * 100 * 0.07 = 84000

Thus, when 320000 cash dividend is declared, 2 years ( current year and arrear year) preference dividend will be paid first and the remaining will be distributed among common stock holders.

The dividedn for common stockholders is 320000 - (84000 * 2) = $152000

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Problem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the t
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Answer:

$31,000

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Lakeside Components wishes to purchase parts in one month for sale in the next. On June 1, the company has 15,000 parts in stock
Kryger [21]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Beginning inventory (parts)= 15,000 parts

Sales June= 13,600

Sales July= 10,500

Sales August= 12,700

Parts are purchased at a wholesale price of $30.

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60 percent on the month of the purchase.

40 percent in the following month.

Lakeside purchased 14,000 parts in May.

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Purchases= sales + desired ending inventory - beginning inventory

June= 13,600 - 15,000= -1,400

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Purchase from the month

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