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
german
3 years ago
5

Outstanding stock of the Sheridan Corporation included 35000 shares of $5 par common stock and 10500 shares of 5%, $10 par non-c

umulative preferred stock. In 2019, Sheridan declared and paid dividends of $5250. In 2020, Sheridan declared and paid dividends of $17500. How much of the 2020 dividend was distributed to preferred shareholders?
Business
1 answer:
Ulleksa [173]3 years ago
5 0

Answer:

Dividend to preferred shareholders= $5250

Explanation:

Non-cumulative preferred shareholders are those shareholders who are paid a fixed return on par value of their shareholding (i.e number of shares) which take priority over ordinary shares but holders of preferred shares don't have voting rights and therefore can't participate in the business affairs the way ordinary shareholders can.

The non-cumulative aspect of preferred shares means that if Sheridan corporation fails to pay preferred shareholders dividend in a year due to whatsoever reason, Sheridan won't be liable to pay them the previous years' dividend, they only get the current years' dividend.

First we compute total par value of preferred shares and apply the percentage of return to shareholders. The amount of dividend to be distributed to preferred shareholders is calculated as follows;

Dividend to preferred shareholders= (10500* $10) * 5%

Dividend to preferred shareholders= $5250

You might be interested in
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $74,000 and $3,900, r
Nadya [2.5K]

Answer:

The 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

Explanation:

The non-collectible accounts expenses on its Year 2 income statement is shown below:

= Ending balance + write off balance - opening balance

= $6,000 + $7,200 - $3,900

=$9,300

The accounts receivable is not to be considered because we have to find out the uncollectible accounts expense, so the account receivable balance should not be taken in the computation part.

Hence, the 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

5 0
3 years ago
Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current infor
Mice21 [21]

Answer:

what im iin 5th grade

Explanation:

8 0
3 years ago
Identify which of the following statements is true.
JulijaS [17]

Answer:

A.

Explanation:

Organizational expense amortized over fifteen years for purposes of determining taxable income results in an upper adjustment in the initial years to book income on the Schedule Minus−1 when the expense is being amortized over ten years for book income purposes.

4 0
3 years ago
The U.S. Department of Agriculture guarantees dairy producers that they will receive at least $1.00 per pound of butter they sup
Tamiku [17]

Answer:

a) he equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.

b) 0 or no surplus.

Explanation:

The question is in three parts

a) a. In the butter market, the monthly equilibrium quantity is million pounds and the equilibrium price is $ per pound

The equilibrum price and quantity refers to that point in sales where the quantity demanded = the quantity supplied.

Looking at the schedule, the equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.

b) What is the monthly surplus created in the wholesale butter market due to the price support (price floor) program?

First, what is the price floor fixed by the government = $1.00 per pound and at this rate, the demanded quantity is 101 million and the quantity supplied is 79 million pounds.

Hence, the monthly surplus = 79 million pounds - 101 million pounds = -22 million pounds

At this price, there is no surplus

7 0
3 years ago
An organization that is global within two years of its inception with a major focus on foreign markets rather than its domestic
Roman55 [17]

Answer: born global

Explanation:

An organization that is global within two years of its inception with a major focus on foreign markets rather than its domestic market can be said to be born global.

Since the day such organization is established, they seek to gain competitive advantage over their rivals by using latest technologies and selling their products in different countries.

7 0
2 years ago
Other questions:
  • Demand for an electric fan is related to its selling price p (in dollars) by the equation n = 3680 − 80 p where n is the number
    10·1 answer
  • Is a situation in which the economy produces more goods and services than it did the year before.
    9·1 answer
  • How to start a business
    10·1 answer
  • BRAINLIEST TO FIRST CORRECT ANSWER TY
    10·1 answer
  • Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr
    5·1 answer
  • Fallsview Glatt Kosher Caterers ran a business that provided travel packages, including food, entertainment, and lectures on rel
    7·2 answers
  • Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the
    6·1 answer
  • On April 1, Cyclone's Co. purchases a trencher for $314,000. The machine is expected to last five years and have a salvage value
    6·1 answer
  • How does a subsidy provided for a good affect consumers?
    10·1 answer
  • An is manager has identified several of what the diffusion of innovation theory would term laggards in his department. It is lik
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!