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
sashaice [31]
3 years ago
9

Seacrest Company has 15,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $5 par common stock. The follo

wing amounts were distributed as dividends:
Year 1 $30,000
Year 2 12,000
Year 3 45,000

Required:
Determine the dividends per share for preferred and common stock for each year.
Business
1 answer:
zloy xaker [14]3 years ago
4 0

Answer:

Cumulative Preferred Stock must always pay out Dividends and when they cannot, the amount unpaid will be accrued for payment to another year when it can be paid.

When Dividends are declared, Preference Shareholders are paid first and then common shareholders follow.

Year 1

Preference Shares = Number of shares * Par value * %

= 15,000 * 50 * 2%

= $15,000

Common Shareholders will get the rest;

= 30,000 - 15,000

= $15,000

Year 2.

Preference Shareholders are still due $15,000 however only $12,000 is available. They will take all of it and be owed $3,000.

Preference Shares, Year 2 = $12,000

Common Shareholders get nothing.

Year 3.

Preference Shareholders are owed $15,000 for the year. They are also owed $3,000 from the previous year.

Preference Shares = 15,000 + 3,000

= $18,000

Common Shareholders will get the remainder;

= 45,000 - 18,000

= $27,000

You might be interested in
Spin Cycle Architecture uses three activity pools to apply overhead to its projects. Each activity has a cost driver used to all
shusha [124]

Answer:

The predetermined overhead rate for each activity.

Activities: Initial concept formation  $42,200;

Cost Drivers: Number of project changes

Expected Use of Cost Driver/Activity =  15

Predetermined overhead rate for activity = Overhead/Cost Driver=  42,200/ 15= $2813

Activities: Design $556,000;

Cost Drivers :Square feet

Expected Use of Cost Driver/Activity  = 38,000

Predetermined overhead rate for activity =Overhead/Cost Driver= 556,000/ 38,000 =$ 14.63

Activities: Construction oversight  $124,200.

Cost Drivers: Number of months

Expected Use of Cost Driver/Activity= 105

Predetermined overhead rate for activity = Overhead/Cost Driver= 124,220/ 105 = 1183.04

5 0
3 years ago
A company maintains its records using cash-basis accounting. During the year, the company received cash from customers, $32,000,
Virty [35]

Answer:

net income cash-basis     8,000

income accrual-basis        7,900

Explanation:

cash revenues                32,000

salaries expense         <u>  (24,000)  </u>

net income cash-basis     8,000

<u>sales for the period:</u>

beginning AR + sales - collected = ending AR

3,000 + sales - 32,000 =  5,500

sales = 34,500

<u>salaries expense:</u>

beginning salaries payables + salaries - paid = ending salaries payable

3,100 + salaries - 24,000 = 5,700

salaries 26,600

revenues                    34,500

salaries                     <u>  (26,600)  </u>

income accrual-basis   7,900

3 0
3 years ago
Read 2 more answers
Inflation is often measured by evaluating changes in the cost of a fixed basket of goods and services. this method_______ inflat
stealth61 [152]
Is there any answer choices ?
8 0
3 years ago
A partial listing of costs incurred at Gilhooly Corporation during September appears below: Direct materials $ 162,000 Utilities
sergejj [24]

Answer:

Manufacturing overhead=  $96,000

Explanation:

Giving the following information:

Utilities, factory $ 11,000

Indirect labor $ 30,000

Depreciation of production equipment $ 51,000

<u>The manufacturing overhead includes all indirect costs regarding production. </u>

<u></u>

Manufacturing overhead= 11,000 + 30,000 + 51,000

Manufacturing overhead=  $96,000

8 0
3 years ago
The practice of allowing employees to set varying hours depending upon their personal needs is referred to as ________.
mr Goodwill [35]

<span>Flexible working arrangement is a practice that allows employees to set varying working hours depending on their personal needs. This modern approach in the workplace enables employees to maximize their time both in and out of the office. It permits employees to have a work-life balance. Employees are now able to spend more quality time with their family and friends while being reinvigorated to work effectively.</span>

7 0
3 years ago
Other questions:
  • Smith operates a roof repair business. This year Smith's business generated cash receipts of $32,000 and Smith made the followin
    11·1 answer
  • When a times-interest-earned ratio is 8.5, this means that the firm:?
    10·1 answer
  • The owner of a bicycle repair shop forecasts revenues of $188,000 a year. Variable costs will be $57,000, and rental costs for t
    10·1 answer
  • Where would you go to set up margins on a letter?
    10·2 answers
  • An example of fast tracking a project schedule would be to overlap the design and production phases for a design-to-production p
    14·2 answers
  • Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common
    9·2 answers
  • Haley just graduated from college. She accepted a position with a firm at an annual salary of $38400. Using HUD guidelines, what
    14·1 answer
  • "A 25-year old client with a low risk tolerance wishes to invest in bonds. The client has invested in equities before, but has n
    8·1 answer
  • uppose the annual demand function for the Honda Accord is Qd = 430 – 10 PA + 10 PC – 10 PGwhere PA and PC are the prices of the
    8·1 answer
  • Imagine a hypothetical economy with a population of 100 people, 80 of which over sixteen. Forty eight of these people who are wo
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!