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aniked [119]
3 years ago
10

Outstanding stock of the Marin Corporation included 54000 shares of $5 par common stock and 20000 shares of 5%, $10 par non-cumu

lative preferred stock. In 2016, Marin declared and paid dividends of $2700. In 2017, Marin declared and paid dividends of $27000. How much of the 2017 dividend was distributed to preferred shareholders?
Business
1 answer:
inn [45]3 years ago
8 0

Answer:

The amount of dividends distributed to preferred stockholders in 2017 is $10000.

Explanation:

The preferred stock is non cumulative which means that if the company is unable to pay dividends on preferred stock in a certain year, the dividend for that year will not be accumulated and will not be paid in the next year.

Thus, the company only paid a dividend of $2700 in 2016 and the remaining dividends will not be payable by the company in year 2017.

The dividend on each share of preferred stock per year is = 10 * 0.05 = $0.5 per share

The number of shares of preferred stock are 20000.

The total dividends that will be paid to preferred stock holders in 2017 is = 0.5 * 20000 = $10000

Thus, out of the $27000 dividends of 2017, $10000 was distributed to preferred stockholders.

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Compute the present value of an $1,350 payment made in nine years when the discount rate is 11 percent. (Do not round intermedia
xeze [42]

Answer:

<h2>The present value of PV in this case is $527.76 approximately.</h2>

Explanation:

The mathematical or accounting formula of Present Value(PV)=\frac{FV}{(i+r)^{n} } where FV denotes the future cash payment to be made,r represents the discount rate and n is the number of years in which the future payment has to made.Here,the future cash payment of FV is given as $1350,the discount rate is 11% or 0.11 and the number of years in which the FV has to be paid is 9 years.

Hence,PV in this case=\frac{1350}{(1+0.11)^{9} }=\frac{1350}{(1.11)^{9} }=\frac{1350}{2.5580 }=527.76 dollars approximately

Therefore,based on the information given the PV in this case is $527.76 approximately.

3 0
2 years ago
The payoff matrix above shows the profits associated with the strategic decisions of two oligopoly firms, Bright Company and Spa
sweet-ann [11.9K]

Answer:

E) Bright: No dominant strategy, Sparkle: Strategy 1

Explanation:

The payoff matrix above shows the profits associated with the strategic decisions of two oligopoly firms, Bright Company and Sparkle Company. The first entries in each cell show the profits to Bright and the second the profits to Sparkle. What are the dominant strategies for Bright and Sparkle, respectively?

Bright: No dominant strategy, Sparkle: Strategy 1

5 0
3 years ago
Salon Company originally issued 4,000 shares of $10 par value common stock for $120,000 ($30 per share). Salon subsequently purc
katen-ka-za [31]

Answer:

(D)  Credit to Paid-In Capital from Treasury Stock for $800.

Explanation:

Please see attachment

6 0
3 years ago
Kamath-Meier Corporation's CFO uses this equation, which was developed by regressing inventories on sales over the past 5 years,
charle [14.2K]

Answer:

$71.5

Explanation:

Inventory forecast is a way of predicting the volume of inventory required to fulfill future orders based on the existing production capacity and other plans relating to production

equation for forecasting inventory = $22 + 0.125 sales

Current sales = $300 million

Annual sales growth rate =32%

sales for next year = 300 + (300*32%)

300 + 96= $396 million

Applying the equation

Inventory = $22 + (0.125*396)

$22 + $49.5 = $71.5 million

7 0
2 years ago
Cory issued a note to his creditor in exchange for an account. cory records the transaction by debiting
PIT_PIT [208]
I believe the answer is a. 
8 0
3 years ago
Read 2 more answers
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