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stiv31 [10]
3 years ago
12

Halverstein Company's outstanding stock consists of 9,450 shares of cumulative 5% preferred stock with a $10 par value and 4,050

shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Year Dividend Declared 2015 $0 2016 $6,000 2017 $32,000 The amount of dividends paid to preferred and common shareholders in 2016 is:
a. $3,500 preferred; $2,500 common.
b. $3,000 preferred; $3,000 common.
c. $0 preferred; $6,000 common.
d. $4,200 preferred; $1,800 common.
e. $6,000 preferred; $0 common.
Business
1 answer:
Vsevolod [243]3 years ago
4 0

Answer:

e. $6,000 preferred; $0 common.

Explanation:

The Preference Stock holders hold first preference during payment of dividends followed by the Common Stockholders.

Note also that Cumulative Preference Stock can have their dividends accumulated and paid in the latter years when funds become available.

Amount of Preference Stock dividend is fixed and calculated as follows:

9,450 shares × $10 × 5% = $ 4,725

2015

Cash dividends                                  = $0

Preference Stock dividend Paid      = $0

Preference Stock dividend Arrears = $ 4,725

No Common Stock Dividend

2016

Cash dividends                                  = $6,000

Preference Stock dividend Paid      = $6,000

Preference Stock dividend Arrears = $ 3,450

No Common Stock Dividend

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You have just finished preparing a formal report on a proposed company merger. You are about to complete your title page. What s
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Answer:

The correct answer is letter "A":  Title; author’s name; name of report; name and organization of the receiver; author’s title; date of submission.

Explanation:

The title page is the front page that starts every formal report. It gives the first impression on how well structured the study has been compacted and provides an overall idea of what is the report going to be explaining. The correct order of information that must be included is:

  • <em>Title </em>
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7 0
3 years ago
Changes in accounting estimates are: Multiple Choice Extraordinary items. Accounted for with a cumulative "catch-up" adjustment.
Tom [10]

Answer:

The answer is D. Accounted for in current and future periods.

Explanation:

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3 years ago
Kohler Corporation reports the following components of stockholdersâ equity on December 31, 2016:
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Answer:

Explanation:

1. Jan 1

   Paid Up Capital   (6,000*15)      Dr.$     90,000

   Paid in Capital in excess of par value  Dr.$30,000

   Treasury stock (6,000*20)     Cr.$   120,000

Jan 5.   Dividend   (55,000-6,0000=49,000*2)   Dr.$98,000

            Dividend Payable                                             Cr.$98,000

Feb 28.  Dividend Payable   Dr.$98,000

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July 6    Bank (2,250*24)     Dr.$54,000

             Paid up capital (2,250*15)   Cr.$33,750

             Paid in capital in excess of par (2250*9) Cr.$20,250  

Aug 22   Cash (3,750*17)    Dr.$63,750

              Paid up capital (3,750*15)  Cr.$ 56,250

              Paid in capital in excess of par Cr.$7,500

Sept 5.   Dividend (49,000+2,250+3,750)*2  Dr.$110,000

              Divided Payable             Cr.$110,000

Oct 28.  Dividend Payable    Dr.$110,000

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2.Statement of retained Earnings

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Add; Net income for the year                  $428,000

Less: Dividends paid(98,000+110,000)  ($208,000)

Retained earnings as at December 31,2017 $680,000      

3. Stockholders' Equity  Section of Balance Sheet  

Retained earnings                        $680,000

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(70,000-30,000+20250+7500)      $67,750  

Total stockholders' equity            $1,662,750

   

         

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Learn more about Intellectual property here: brainly.com/question/1083623

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