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
Eddi Din [679]
3 years ago
7

Sanchez Company has 48,000 shares of 7% preferred stock of $100 par and 92,000 shares of $50 par common stock issued and outstan

ding. The following amounts were distributed as dividends: Year 1 $497,000 Year 2 $490,000 Year 3 $524,000 Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent.
Business
1 answer:
galina1969 [7]3 years ago
6 0

Answer:

Check Explanation.

Explanation:

The following parameters are given for dividends of three years;

Year 1 = $497,000, Year 2 = $490,000 Year 3 = $524,000.

The number of shares= 48,000 of 7%, preferred stock = $100 par and 92,000 shares of $50 par common stock issued and outstanding.

Therefore,

Year one:

=> Amount Distributed = $497,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 497,000 - 336,000 = 161,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 161,000/ 92,000 shares =$ 1.75.

Year Two:

=> Amount Distributed = $490,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 490,000 - 336,000 = 113,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 113,000/ 92,000 shares =$1.23.

Year Three:

=> Amount Distributed = $524,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = $524,000 - 336,000 = 188,000.

=> Preferred divided per share = 336,000/ 48,000 = $7.

=> Common dividend = Common dividend/ 92,000 shares = 188,000/ 92,000 shares =$2.04

You might be interested in
Depreciation: Is the process of allocating to expense the cost of a plant asset. Measures the decline in market value of an asse
Bess [88]

Answer:

A. Is the process of allocating to expense the cost of a plant asset.

Explanation:

Depreciation can be defined as a process in which the monetary or financial value with respect to an asset decrease or falls over time as a result of wear and tear.

Depreciation is the process of allocating to expense the cost of a plant asset.

7 0
2 years ago
Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the
MaRussiya [10]

Answer:

$308,100

Explanation:

Calculation for what are the issuer's cash proceeds from issuance of these bonds

Using this formulaIssuer's cash proceeds from issuance of bonds=Fave value*Implies a selling price percentage

Let plug in the formula

Issuer's cash proceeds from issuance of bonds=$390,000*79/100

Issuer's cash proceeds from issuance of bond=$308,100

Therefore the issuer's cash proceeds from issuance of these bonds will have be $308,100

5 0
2 years ago
Strong economic growth since 1960 has allowed nations like Singapore and Ireland to surpass nations such as the United Kingdom a
djyliett [7]

Answer:

A. True.

Explanation:

Making a comparison among countries of GDP per capita and Ireland and Singapore show higher values than the United Kingdom and France and this is because these two countries have experienced long periods of rapid growth with ratas higher than growth population. The United Kingdom and France, as mature economies economically growth also, but at a lower rate

3 0
3 years ago
"_____ are groups of concerned citizens who band together to try to influence the business practices of specific industries, bus
Nastasia [14]

Advocacy groups are groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions.

Explanation:

Advocacy groups are important components of consumer rights in the capitalistic market and are essential for maintaining good business practices in the capitalistic society where competition can take a hold over the moral situation that should in  a sense dominate.

The advocacy groups that work this way are the ones who are a group of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. This is important for consumer rights for this sector to be strong.

5 0
3 years ago
The fundamental facilities and systems serving a country such as transportation,communication systems, power plants, and schools
vaieri [72.5K]
They are called <span>Infrastructure.</span>
6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the importance of the variation in statistics?
    12·1 answer
  • Which is the most accurate definition of bankruptcy?
    12·1 answer
  • A firm is considering changing their credit terms. It is estimated that this change would result in sales increasing by $ 1 comm
    6·2 answers
  • A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a man
    9·1 answer
  • How do the rhetorical questions in this section set the stage for Mack’s argument and engage his audience?
    9·1 answer
  • Mike, an attorney, earns $200,000 from his law practice and receives $45,000 in dividends and interest during the year. In addit
    7·1 answer
  • Tom buys a shirt for $22.00 plus 7% sales tax. His cousin buys a shirt for $18.00 plus 4% sales tax.How much do Tom and his cous
    15·1 answer
  • Which cell organelle is most similar in function to an organism’s nervous<br> system? true or false
    10·1 answer
  • Wilcox Corporation reported the following results for its first three years of operation: 2020 income (before income taxes): $30
    14·1 answer
  • Which Finance career pathway includes helping people create and manage budgets and calculate taxes?
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!