1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lakkis [162]
3 years ago
14

Sabas Company has 20,000 shares of $100 par, 1% non-cumulative preferred stock and 100,000 shares of $50 par common stock. The f

ollowing amounts were distributed as dividends:
Year 1: $10,000

Year 2: 15,000

Year 3: 90,000

Determine the dividends per share for preferred and common stock for each year
Business
1 answer:
dimaraw [331]3 years ago
6 0

Answer:

                                            Year 1             Year 2               Year 3

Preferred stock (A ÷ C)        $0.50           $0.75                  $1

Common stock (B ÷ D)           $0                $0                      $0.70

Explanation:

The computations are shown below:

Preferred shares = 20,000 shares (C)

Common stock  shares = 100,000 shares (D)

Preferred dividend = 20,000 shares × $100 × 1% = $20,000

Particulars                         Year 1             Year 2               Year 3

Total dividend                    $10,000        $15,000            $90,000

Preference dividend (A)     $10,000       $15,000             $20,000

Common shares                   $0                 $0                    $70,000

dividend (B)

Dividend per share = (Total dividend) ÷ (number of shares)

Preferred stock (A ÷ C)        $0.50           $0.75                  $1

Common stock (B ÷ D)           $0                $0                      $0.70

You might be interested in
Strickland Company owes $202,900 plus $18,600 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2
Vesnalui [34]

Answer:

a.                     Strickland Company (Debtor)

Date  Account Title and Calculation                   Debit         Credit

          Notes payable                                          $202,900

          Interest payable                                        $18,600

          Accumulated depreciation (Machine)      $218,689

                    Machine                                                             $397,600

                    Gain on disposition of machine                        $7,080

                     (186,000 + 397,000 - 218,680)

                    Gain on debt restructuring                                 $35,500

                    [(202,900 + 18,600) - 186,000]

                       Moran State Bank (Creditor)

Date  Account Title and Calculation          Debit         Credit

         Machine                                             $186,000

         Allowance for Doubtful accounts     $35,000

                Notes receivable                                           $202,900

                 Interest receivable                                        $18,600

b. Gain on machine disposition and the gain on debt restructuring should be reported as an ordinary gain in the income statement.

c.                      Strickland Company (Debtor)

Date  Account Title and explanation         Debit         Credit

         Notes payable                                   $202,900

         Interest payable                                 $18,600

                  Common stock                                             $112,000

                   Additional paid-in-capital                            $74,000

                   Gain on debt restructuring                          $35,500

                       Moran State Bank (Creditor)

Date  Account Title and explanation             Debit         Credit

          Investment Trading                             $186,000

           Allowance for Doubtful accounts      $35,500

                     Notes receivable                                          $202,900

                     Interest receivable                                        $18,600

7 0
3 years ago
A ____ is a source of revenue flowing into the firm.
diamong [38]
The answer is revenue stream.
3 0
3 years ago
Marilyn County operates on a calendar year basis. It uses a Capital Projects Fund to account for major capital projects and a De
mr Goodwill [35]

Answer:

Marilyn County

1. Journal Entries:

1. January 1, 2013,

Debit Capital Projects Fund $1,000,000

Credit General Obligation Bonds Payable $1,000,000

To record the issuance of bonds, payable in 20 equal semiannual installments of $50,000 over a 10-year period commencing October 1, 2013, with interest of 4 percent per annum paid on the outstanding debt.

2. May 1,

Debit Capital Projects Fund $20,000

Credit General Fund $20,000

To fund the additional project costs.

3. July 1

Debit Construction of Community Center $1,020,000

Credit Capital Projects Fund $1,020,000.

To record the payment to the contractors for completed construction of Community Center with estimated 20 years useful life.

4. September 30, 2013

Debit Debt Service Fund $70,000

Credit General Fund $70,000

To transfer funds for debt service.

5. October 1:

Debit Bonds Payable $50,000

Debit Interest on Bonds Expense $20,000

Credit Debt Service Fund $70,000

To record the payment of the debt service with semi-annual interest.

2. Governmental activities column of the government- wide financial statements:

Capital assets $1,020,000

Reduction of Liabilities $950,000 ($1,000,000 - $50,000)

Payment of debt service and interest $70,000

3. December 31, 2013, government-wide statement of net position

Investment in capital assets, $1,020,000

Related debt                              (950,000)

Invested capital assets, net       $70,000

4. December 31, 2014, government-wide statement of net position

Investment in capital assets, $1,020,000

Related debt                              (850,000)

Invested capital assets, net      $170,000

Explanation:

a) Data and Analysis:

1. January 1, 2013, Capital Projects Fund $1,000,000 General Obligation Bonds Payable $1,000,000

2. May 1, Capital Projects Fund $20,000 General Fund $20,000

3. July 1 Construction Contract $1,020,000 Capital Projects Fund $1,020,000.

4. September 30, 2013 Debt Service Fund $70,000 General Fund $70,000  

5. October 1, Bonds Payable $50,000 Interest on Bonds Expense $20,000 ($1,000,000 * 4% * 6/12) Debt Service Fund $70,000

4 0
3 years ago
On January 15, Walton Company sold merchandise on account for $3,000 with terms 3/10, n/30. On January 20, the customer returns
Margaret [11]

Answer:

The amount received in cash is $2,328

Explanation:

The amount which is received in cash is computed as:

On January 20, the amount of $600 goods returns from customer, so the remaining balance is

= $3,000 - $600

= $2,400

On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is January 25. So,

= $2,400 x  (100% - 3%)

= $ 2,400 x  97%

= $ 2,328

7 0
3 years ago
How are manufacturers trying to reverse or counteract the negative environmental impacts of manufacturing? (Select all that appl
zzz [600]

The manufacturers are trying to counteract the negative environmental impacts of manufacturing by:

  • reducing and eliminating waste
  • establishing green initiatives

<h3>How does manufacturing affect the environment?</h3>

The emission of carbon and waste from the manufacturing plant plays a part in the concentration of greenhouse gases on earth.

However, the manufacturers are adopting the process of reducing & eliminating waste and establishing green initiatives to minimize its pollution of the environment.

Therefore, the Option B and E is correct.

Read more about environmental impact

<em>brainly.com/question/27080910</em>

8 0
2 years ago
Other questions:
  • Walmart and procter &amp; gamble effectively implemented ________, which allowed for information to flow directly from walmart's
    6·1 answer
  • A customer has just received a $100,000 inheritance and wants to know what to do with the money until he decides how to use it.
    15·1 answer
  • George retired from a local law firm and then volunteered to oversee a nonprofit's legal records. george is performing the dutie
    5·1 answer
  • Yield to maturity (YTM) is the rate of return expected from a bond held until its maturity date. However, the YTM equals the exp
    14·1 answer
  • Arrow Printers paid $2,000 interest on short-term notes payable, $10,000 interest on long-term bonds, and $6,000 in dividends on
    6·1 answer
  • Boss Enterprises currently sells its products for per unit. Management is contemplating a ​% increase in the selling price for t
    7·1 answer
  • A(n) _____ is a firm that delivers a software application, or access to an application, by charging a usage or subscription fee.
    11·1 answer
  • You are evaluating a growing perpetuity investment from a large financial services firm. The investment promises an initial paym
    12·1 answer
  • Indicate by how much net income in the income statement is higher or lower if the adjustment is not recorded. (Do not round inte
    8·1 answer
  • Is anyone gonna help I posted the same thing 3 times and no one will help. Ive been stuck in my room for days trying to get this
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!