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Anuta_ua [19.1K]
2 years ago
8

Skinner Company began business on June 30, 2018. At that time, it issued 18,000 shares of $50 par value, 6% cumulative preferred

stock and 90,000 shares of $10 par value common stock. Through the end of 2020, there has been no change in the number of preferred and common shares outstanding. a. Assume that Skinner declared and paid cash dividends of $63,000 in 2018, $0 in 2019, and $378,000 in 2020. Compute the total cash dividends and the dividends per share paid to each class of stock in 2018, 2019, and 2020
Business
1 answer:
Stella [2.4K]2 years ago
3 0

Answer:

2018

Preferred Dividend = $54,000

Common Stockholders = $9,000

2019

Preferred Dividend arrears =$54,000

Common Stockholders = $0

2020

Preferred Dividend = $54,000

Common Stockholders = $270,000

Explanation:

Preferred stockholders has an advantage that they are paid first when there is any dividend is announced. The residual dividend will be divided into the common stockholders. Any prior years due dividend and current years dividend associated with preferred share will be paid first.

As per given data

Preferred shares = 18,000 x $50 = $900,000

Preferred Dividend = $900,000 x 6% = $54,000

2018

Dividend Declared = $63,000

Dividend Allocated to Common Stockholders = Dividend Declared - Preferred Dividend = $63,000 - $54,000 = $9,000

2019

Dividend Declared = $0

Preferred Dividend Arrears = $54,000

2020

Dividend Declared = $378,000

Preferred Dividend Arrears = $54,000

Dividend Allocated to Common Stockholders = Dividend Declared - Preferred Dividend - Preferred Dividend Arrears = $378,000 - $54,000 - $54,000 = $270,000

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Answer:

$93,000

Explanation:

Data provided in the question:

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Explanation:

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Blue Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber 25% Mi
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Data and Calculations:

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Gross Margin (%)                  20%            23.1%              28.6%

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<u>Estimating the Cost of Goods Sold:</u>

Sales to Aug. 18       2,064,500      538,590          261,240

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Cost of goods sold = Sales - Gross profit or Sales x (1 - gross margin)

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6 0
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Which filter can be used to find a specific project when in the work area?
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<h3>Project Filter</h3>

When looking or searching for a particular project  that meet your requirement  in a work area, in order to find the project the best thing to do is to include the following filter as it will enables you to find the project you are looking for;

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Therefore the filter that can be used to find a specific project when in the work area is: Project name.

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You find the following financial information about a company: net working capital = $1,005; fixed assets = $6,025; total assets
hichkok12 [17]

Answer:

$6,021

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