Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one depa
1 answer:
You might be interested in
Answer:
Dividend Per Each Share = $0.85 per share
Explanation:
given data
common stock outstanding = 41,000 shares
preferred stock outstanding = 5,000 shares
common stock = $6.00 par value
preferred stock 4% noncumulative = $100.00 par value
total dividend payment = $55,000
solution
we get here Total Preferential Divided that is
Total Preferential Divided = Shares × Face Value × 4% ........1
Total Preferential Divided = 100 × 5000 × 4%
Total Preferential Divided = 20000
so as that Total Equity Dividend is
Total Equity Dividend = Total Dividend - Total Equity Dividend .............2
Total Equity Dividend = $55,000 - 20000
Total Equity Dividend = 35000
so Dividend Per Each Share will be
Dividend Per Each Share = ..............3
Dividend Per Each Share =
Dividend Per Each Share = $0.85 per share