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tekilochka [14]
3 years ago
13

Lakeland, Inc. has 25,000 shares of 6%, $100 par value, noncumulative preferred stock and 50,000 shares of $1 par value common s

tock outstanding at December 31, 2015. There were no dividends declared in 2014. The board of directors declares and pays a $250,000 dividend in 2015. What is the amount of dividends received by the common stockholders in 2015
Business
1 answer:
Maru [420]3 years ago
8 0

Answer:

The common stockholders will receive a dividend of $100000 in 2015

Explanation:

The preferred stock is non cumulative which means that in case it does not pay dividends in a certain year, the dividends will no be accumulated and the company will not be obliged to pay these dividends in later year.

The per share preferred stock dividend for the company is = 100 * 0.06 = $6

The total dividends on preferred stock per year = 6 * 25000 = $150000

The common stockholders are paid dividends after the preferred stockholders are paid.

Thus, for 2015 the common stockholders will receive a dividend of,

Common stock dividend = 250000 - 150000 = $100000

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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month
Ad libitum [116K]

Answer:

75%

Explanation:

Given that,

Total Sales = $174,000

Total Variable expenses = $43,500

Total contribution margin = $130,500

Total fixed expenses = $86,175

Net operating income = $44,325

Overall contribution margin (CM) ratio for the company:

= (Total contribution margin ÷ Total sales) × 100

= ($130,500 ÷ $174,000) × 100

= 0.75 × 100

= 75%

5 0
3 years ago
Grain co-op, llc and hearty cereals, inc., discuss the terms of a contract for periodic deliveries of corn. grain faxes hearty a
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The answer is "<span>Refer to Fact Pattern 16-1. Between Grain and Hearty, there is a</span><span> written contract".
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An agreement is a verbal or written consent to do work in return for some advantage, for the most part an payment. A written contract is an agreement made on a printed record that has been marked by both the moneylender and the borrower. Composed contracts are lawfully official and less demanding to implement than oral contracts.
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3 years ago
which forerunner technology enabled its users to have a conversation with other users without creating personal accounts
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Internet relay chat enabled its users to have a conversation with other users without creating personal accounts.
8 0
3 years ago
Read 2 more answers
He auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard l
dalvyx [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The standard labor cost for a motor tune-up is given below:

Standard Hours= 2.5

Standard Rate= $33

Standard Cost Motor tune-up= 82.5

The shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups:

Labor rate variance $ 80 F

Labor spending variance $ 118 U

1) Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (58*2.5  - actual quantity)*33

118= (145 - AQ)*33

118= 4,785 - 33AQ

-4,667= -33AQ

141.42= Actual Quantity

2) Direct labor price variance= (SR - AR)*AQ

80= (2.5 - Actual rate)*141.42

-273.55= -141.42AR

1.92= Actual rate

8 0
3 years ago
Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month lat
Firdavs [7]

Answer:

Here, selling price is $32 and the cost of treasury stock is $30, Hence selling price is higher than cost.

Following Journal Entries are to be passed:

(a) Treasury Stock (4,000 shares × $30) A/c   Dr.   $120,000

To Cash A/c                                                                               $120,000

(b) Cash (900 Shares × Selling Price $32) A/c   Dr.  $28,800

To Treasury Stock (900 shares × Cost 30)                               $27,000

To  Paid in Capital from Treasury Stock (Difference)                $1,800

 

7 0
3 years ago
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