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lora16 [44]
3 years ago
9

Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 3% stock, $

25 par, and 31,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $7,250; second year, $11,750; third year, $62,360; fourth year, $104,000. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
Business
1 answer:
vaieri [72.5K]3 years ago
4 0

Answer and Explanation:

The computation of the dividend per share for each class of stock for four years are as follows

Preferred stock

= 25,000 shares × $25 × 3%

= $18,750

The dividend per share is

= $18,750 ÷ 25,000 shares

= $0.75

Now for the first year

= $7,250 ÷ 25,000

= $0.29

And the 0 is for Common  stockholders

For the second year  

Preferred stock  

=  $11,750 ÷ $25,000

= $0.47

And the 0 is for Common  stockholders

For the third year

Preferred  stock

= $0.46 + $0.28 + $0.75

= $1.49

And for the Common stockholders

= $27,900 ÷ 31,000  shares

= $0.9

For the fourth year

Preferred stock = $0.75

And, for the common stockholders

= $94,860 ÷ 31,000 shares

= $3.06

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Answer:

B. A close corporation

Explanation:

Based on the information provided within the question it can be said that Miracle Mobile Devices Inc. is a closed corporation. This term refers to company that is not a public corporation and does not surpass a predefined number of shareholders or stakeholders. Which both statements 2 and 4 defend this declaration.

8 0
3 years ago
Waterway industries, has 4700 shares of 5%, $50 par value, cumulative preferred stock and 100000 shares of $1 par value common s
e-lub [12.9K]

Since the preferred stocks are cumulative in nature, the dividend amount not paid in the current year will be accumulated and paid in the next year.

Preferred dividend to be paid in 2017 = Value of preferred stock x Dividend rate

= (4700 x $50) x 5%

= 11750

Dividend to be paid in 2018 = same as 2017 as no new preferred stock issued

= 11750

Total dividend to be paid in 2018 = Dividend to be paid in 2018 + Dividend to be paid in 2017 – Dividend paid in 2017

= 11750 +11750 -7900

= $15600

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3 years ago
Van, a friend of yours from high school, recently called. He asked if you could explain to him how the value of his portfolio wo
12345 [234]

Answer:

Van is asking about Investment area of finance.

Explanation:

  • The developments reported can affect the market sentiments generally.
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Learn more about investment, refer :

brainly.com/question/14847954

6 0
3 years ago
Jason and Katrina work on the loading dock for Longhaul Transport Company. Jason has a disability. Katrina has seniority. Jason
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Answer:

Katrina's seniority is a good defense.

Explanation:

Industrial Jurisprudence

This is refered to as a system of rules and regulations that is used by labor and management fashion to show their specific employment rights and obligations in the work environment.

Seniority System

This is refered to as different rules and procedures usually within an agreement that shows the allocation of certain job situations including promotion, layoff and recall, as well as certain economic benefits based on length of service. This is application to many organizations.

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This very important measure of employee job security and it start with acquiring seniority on the date & time of hire (cannot be awarded until completion of probationary period).

Jason may lose the case as a result of the seniority system.

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3 years ago
Wisdom Toys has budgeted sales and production over the next quarter as follows: Unit Sales Production September 43,000 44,400 Oc
baherus [9]

Answer:

$12,800

Explanation:

This can be calculated as follows:

November sales in unit = 64,000

Since Wisdom Toys requires that 20% of the next month’s sales in units are on hand at the end of each month, we have:

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3 years ago
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